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Slide Continues : Rupee Sinks Further, Depreciates 10 Paise To Close At Rs 93.00 Against The US Dollar ; Sensex And Nifty End On Higher Note

Forex traders said the USD/INR pair is trading under pressure, dragged down by unabated withdrawal of foreign capital, a firm dollar, and higher crude oil prices amid a volatile geopolitical situation. 

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The rupee depreciated 10 paise to close at 93.00 (provisional) against the US dollar , as investors remained on edge ahead of US President Donald Trump’s deadline for the opening of the Strait of Hormuz and the Reserve Bank’s monetary policy review.

Forex traders said the USD/INR pair is trading under pressure, dragged down by unabated withdrawal of foreign capital, a firm dollar, and higher crude oil prices amid a volatile geopolitical situation.
Moreover, market participants will remain watchful of evolving geopolitical headlines and the upcoming RBI monetary policy decision.
At the interbank foreign exchange market, the rupee opened at 93.05 against the US dollar, then lost ground to trade at 93.07, registering a fall of 17 paise from its previous close.
During the day, the rupee also touched an intraday high of 92.86 against the greenback.
At the end of Tuesday’s trading session, the rupee was quoted at 93.00 (provisional), down 10 paise from its previous close.

Stock market benchmark indices Sensex and Nifty ended higher on Tuesday, as a drop in crude oil prices and a rally in global markets calmed investors’ sentiment.

Also, buying in IT stocks aided recovery in the markets after early losses.

The 30-share BSE Sensex jumped 509.73 points, or 0.69 per cent, to settle at 74,616.58.

During the day, it hit a high of 74,686.32 and a low of 73,282.41, gyrating 1,403.91 points.

The 50-share NSE Nifty climbed 155.40 points, or 0.68 per cent, to end at 23,123.65.

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