Rupee opens 8 paise lower at 64.63 against dollar

The rupee opened 8 paise lower at 64.63 against dollar on Tuesday on account of buying of American currency by banks and importers.

For Tuesday’s trading session, Angel Broking said, “USDINR spot is likely to weaken today tracking weakness in the Asian market currencies.”

The rupee on Monday closed 9 paise up at 64.55 against dollar.

Meanwhile, domestic equity markets opened on a flat note following mixed global cues. The 30-share BSE Sensex opened 17 points, or 0.06 per cent, down at 30,553.89, while the Nifty50 index opened 6.80 points, or 0.07 per cent, up at 9445.05.

Foreign portfolio investors bought shares worth Rs 3,172.65 crore in domestic equity markets on Tuesday with gross purchases and gross sales of Rs 8,772.35 crore and Rs 5,599.70 crore, respectively.

Mustafa Nadeem, CEO, Epic Research said, "USDINR continues to trade in a thin range for over a prolonged period of time with no clear direction in near term. Short term trend in USDINR seems to be on downside. A trader should maintain sell on rise strategy in currency, USDINR.”

Government bonds rose on Monday, as comments from some government officials that implementation of the proposed Goods and Services Tax ( GST) will further ease inflation boosted hopes of a less-hawkish monetary policy outlook next month.

The benchmark 6.97% 2026 bond yield fell to 6.67 per cent on Monday from 6.71 per cent in the previous session.