Rupee opens nearly 5 paise down at 67.47 against dollar
The rupee opened nearly 5 paise down at 67.47 against the dollar on Tuesday on account of buying of the American currency by banks and importers as its Asian peers weakened.
According to market experts, traders are cautious ahead of macro-economic data due later in the day and the two-day rate-setting meeting of the Federal Open Market Committee that begins later on Tuesday.
The local currency remained highly volatile last week but managed to end with sharp gains and tested a three-week high on the back of sustained selling of the greenback amid a rally in domestic equity market and inflow of foreign funds.
Foreign institutional investors turned net buyers in December, having bought shares worth of Rs 139 crore. They had offloaded shares worth of Rs 18,244 crore and Rs 4,306 crore in November and October, respectively, according to the data available with NSDL.
According to market experts, traders are cautious ahead of macro-economic data due later in the day and the two-day rate-setting meeting of the Federal Open Market Committee that begins later on Tuesday.
The local currency remained highly volatile last week but managed to end with sharp gains and tested a three-week high on the back of sustained selling of the greenback amid a rally in domestic equity market and inflow of foreign funds.
Foreign institutional investors turned net buyers in December, having bought shares worth of Rs 139 crore. They had offloaded shares worth of Rs 18,244 crore and Rs 4,306 crore in November and October, respectively, according to the data available with NSDL.
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