Rupee is trading 26 Paise lower at 81.68 against US dollar

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The US dollar index fell by 0.17% to 101.96. (File)

Bombay:

The rupee fell 26 paise to 81.68 against the US dollar in early trading on Tuesday following a rise in crude oil price and forex outflows.

However, early gains in domestic stock markets and a weak dollar against world currencies limited the rupee’s losses.

The local unit opened lower at 81.48 to the dollar against its latest close of 81.42. It moved in a range from 81.48 to 81.68 in morning deals.

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On interbank foreign exchange trading, the rupee was trading at 81.68 to the dollar at 9:25 am.

Forex dealers said forex outflows from capital markets weigh on the local unit. Firm crude oil prices are also hitting rupee sentiment, they added.

Brent crude oil, the international oil price benchmark, rose 0.02 percent in Asian trade to USD 88.21 a barrel on expectations that demand from China will pick up again.

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The US dollar index, which shows the greenback’s strength against six world currencies, fell 0.17 percent to 101.96.

Foreign institutional investors (FIIs) were net sellers in the capital market on Monday as they sold shares worth Rs 219.87 crore, according to exchange data.

Foreign investors have withdrawn a net amount of Rs 15,236 crore so far this month on attractive Chinese markets and worries about the US economy entering a recession.

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