INSUBCONTINENT EXCLUSIVE:
Rupee Vs Dollar: The rupee gained to as high as 75.64 against the dollar during the sessionRupee Vs Dollar Today: The rupee strengthened by
38 paise - or 0.50 per cent - against the US dollar on Tuesday to settle at 75.64 for the day
It moved in a range of 75.64-75.89 against the greenback during the four-hour session before shutting shop at the strongest level of the
day, having started the day higher at 75.85 compared to its previous close of 76.02
Sustained foreign fund inflows, rising domestic equities and easing oil rates lifted investors' confidence in the forex markets, according
to analysts.Domestic stock markets rose more than 1 per cent on Tuesday, and were set to close higher for a fourth consecutive session
Buying across sectors, led by financial, consumer goods and metal stocks, supported the markets.At the current level, the rupee is down 6
per cent against the US currency so far this year. The dollar index - which gauges the greenback's performance against six currencies - was
last seen trading down 0.20 per cent, having declined as much as 0.28 per cent earlier."As the rupee is majorly impacted by global cues than
the domestic, it is likely that the pair shall retrace back near 75.60-75.70 levels," said Amit Pabari, managing director at forex advisory
firm CR Forex."A failure of sustenance above 76.20 yet again confirms that the depreciation in the pair shall be limited and the RBI is
comfortable to keep rupee in range of 75.00-76.20 levels as witnessed," he said.International crude oil prices steadied on Tuesday after a
volatile session sparked by confusion over the status of the US-China trade deal.Brent crude futures - the global benchmark for crude oil -
were last seen trading 0.20 per cent lower at $42.98 per barrel, having earlier skidded to as low as $42.21 per barrel. Markets were
spooked by surprise comments from White House trade adviser Peter Navarro saying the hard-won deal was "over", though assurances from US
President Donald Trump later that the agreement was fully intact soothed jangled nerves.On Monday, foreign portfolio investors (FPIs) net
purchased Indian equities worth Rs 1,236.67 crore ($162.26 million), according to exchange data.FPIs have so far this month been net buyers
of domestic shares worth Rs 21,763.5 crore, as against Rs 14,569 crore in May. In March and April, they were net sellers of Indian stocks
worth Rs 68,857 crore, data from the National Securities Depository shows.Currency markets currently operate within reduced trading hours
due to the coronavirus-induced lockdown
The temporary timings are from 10 am to 2 pm, instead of the normal timings of 9 am to 5 pm.
