Indian Rupee closed at day’s peak at 73.71 per American dollar, amid buying force seen in the domestic equity market. The benchmark currency closed 14 paise higher against the greenback. On Monday, Rupee had closed 25 paise lower.
It opened lower for the third consecutive day amid lacklustre domestic equities and firm greenback. The local unit opened at 73.95 at the interbank forex market, down 10 paise over its last close of 73.85. The dollar clung to small gains on Tuesday while crude oil prices regained a facade of stability after suffering sharp losses over the previous session and last week, as a resurgence of corona virus cases globally.
The Indian equity market ended around 1 pc higher on Tuesday, led by gains in financial and FMCG stocks. Further, optimism of higher inflows after MSCI said it will implement the new regime on foreign ownership limits in the MSCI Global Indexes containing Indian securities in the November 2020 Semi Annual Index Review, also boosted investor sentiment.
European market fell in early Tuesday trading as risk-aversion swept markets, with a resurgence of covid cases threatening the international economic recovery and caution ahead of US elections on November 3.
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