INSUBCONTINENT EXCLUSIVE:
line with strong Asian currencies and rally in domestic equities
The domestic unit opened strong at 69.49 and rose to the day's high of 69.34 at the interbank forex market
During the day, the local unit touched an intra-day low of 69.65 against the US dollar
The domestic currency finally settled at 69.44, higher by 21 paise from the previous close
The rupee on Monday had settled at 69.65 to the dollar
Forex dealers said heavy buying in domestic equities propped up the rupee."India's rupee appreciates most in more than a week as rebound
in Asian currencies, higher equity markets and stable oil prices supported sentiments," said VK Sharma, head-PCG - Capital Market Strategy,
HDFC securities.The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 96.78
Brent crude futures, the global oil benchmark, rose 0.06 per cent to $62.33 per barrel.Meanwhile, the 10-year government bond yield was at
7.04 per cent on Tuesday.Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 95.79 crore on
Tuesday, provisional data showed.The BSE benchmark Sensex on Tuesday settled 165.94 points, or 0.42 per cent, higher at 39,950.46
Similarly, the broader NSE Nifty rose 42.90 points, or 0.36 per cent, to settle at 11,965.60.Meanwhile, Financial Benchmark India Private
Ltd (FBIL) set the reference rate for the rupee/dollar at 69.4598 and for rupee/euro at 78.5544
