Stay updated with breaking news from Amit Pabari. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Get latest articles and stories on India at LatestLY. The rupee appreciated by 3 paise to 83.10 against the US dollar on Tuesday, tracking a positive trend in domestic equities and weakness of the American currency in the overseas market. India News | Rupee Rises 3 Paise to 83.10 Against US Dollar in Early Trade.
Rupee expected to trade positively against the dollar, influenced by domestic equities and foreign inflows, with oil prices a factor.
Indian rupee weakens slightly against US dollar amid dollar demand, Asian currency gains, and anticipation of national election results.
The dollar index slipped below the 104.5 mark, extending its losses from Monday, while most Asian currencies ticked up, with the Korean won up 0.4% and leading gains.
Traders expect the rupee to hover between the 82.90 and 83.30 range, heading into the outcome of India's national elections on June 4. "The performance of Indian equities is expected to be a significant driver for the rupee, especially as investors position themselves ahead of the national election (results)," said Amit Pabari, managing director at FX advisory firm CR Forex.