Rupee opens flat at 68.09 against dollar on Tuesday

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NEW DELHI: The rupee opened 1 paise higher at 68.09 against dollar on Tuesday on account of mild selling of American currency by banks and exporters. The currency was trading at Rs 68.10 on Monday.

Meanwhile, the domestic equity market also opened on a flat note following mixed global cues. The 30-share Sensex opened 43 points, or 0.16 per cent, up at 27331.82, while the 50-share Nifty opened 12.45 points, or 0.15 per cent, up at 8,412.80.

Around 9.15 am (IST), the local currency was trading nearly 3 paise higher at 68.07 against Monday’s close of 68.10 against dollar.

According to Nirmal Bang Commodities, the rupee is expected to trade sideways to up movement. The currency is likely to trade in the range of 68.10 – 68.38 against dollar.

The local unit on Monday staged a mild recovery and closed higher by 6 paise following encouraging macro-economic data. The RBI fixed the reference rate for the dollar at 68.1558 and for the euro at 72.4155.

Foreign institutional investors (FIIs) stood net sellers in domestic equity markets on Monday as they offloaded shares worth Rs 103.10 crore with gross purchases and gross sales of Rs 3,237.92 crore and Rs 3,341.02 crore, respectively.

Government bonds fell on Monday, amid rising concerns on rate cuts by a Monetary Parliamentary Committee in the upcoming policy meeting. The benchmark 6.97% 2026 bond yield rose to 6.44 per cent from 6.42 per cent the previous day.