The Indian rupee recovered in opening trades on Tuesday but continues to linger around Rs 92 per dollar mark. INR commenced at 91.92 but fell back to hit a low of 92.14 so far during the day. Yesterday, rupee crashed to its all-time closing low of 92.35 against the US dollar, losing 53 paise during the session, as global crude oil prices saw a sharp spike, and the greenback strengthened amid worsening conflict in the Middle East. Withdrawal of foreign funds amid intense selling in domestic equity markets further pressured the rupee. Indian shares slumped on Monday as the Iran-Israel-U.S. war entered its 10th day and the Strait of Hormuz, a critical trade route, remained shut for the sixth consecutive day. The benchmark BSE Sensex ended down 1,352.74 points, or 1.71 percent, at 77,566.16 after hitting a low of 76,424.55 earlier. The broader NSE Nifty index hit an intraday low of 23,697.80 before recovering some lost ground to close down 422.40 points, or 1.73 percent, at 24,028.05. Today, Indian shares rebound as oil prices plunged nearly 10 percent on comments by U.S. President Donald Trump that the war in the West Asia could end soon and that he plans to waive oil-related sanctions and have the U.S. Navy escort tankers through the Strait of Hormuz.
Powered by Capital Market - Live News