At the interbank forex market, the rupee opened at 88.55 and touched an intraday high of 88.28 against the dollar. The unit also touched a low of 88.67 before ending the session at 88.66 (provisional) against the dollar, up 11 paise from the previous closing level.On Monday, the domestic currency, which fell for the third straight session, ended 7 paise lower at 88.77 against the US dollar, close to all-time closing levels.
The rupee had recorded an all-time low of 88.81 against the dollar on October 14.
The foreign exchange markets are closed on Wednesday due to the holiday in Prakash Gurpurb. Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, rose 0.09 percent to 99.80. Brent crude, the global oil benchmark, fell 1.37 percent to $64 per barrel in futures trading.
In domestic equity markets, the Sensex fell 519.34 points or 0.62 percent to settle at 83,459.15, while the Nifty fell 165.70 points or 0.64 percent to end at 25,597.65.
Foreign institutional investors sold shares worth Rs 1,883.78 crore on Monday, according to stock exchange data.
A monthly survey released on Monday showed activity in India’s manufacturing sector strengthened in October, supported by goods and services tax cuts, productivity gains and technology investments, even as international sales rose at a weaker pace.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) rose to 59.2 in October from 57.7 in September, indicating faster improvement in the sector’s health.
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