INR Vs USD: The rupee on Tuesday plunged by 13 paise to close at 71.05 against dollar.The rupee opened on a weaker note but soon pared losses and appreciated by 13 paise to 70.92 against US dollar in opening trade on Wednesday, driven by gains in domestic equities and weakening of greenback in overseas markets.The rupee opened on a weak note at 71.10 at interbank forex market then lost further ground and touched a low of 71.12.The domestic unit however pared losses and touched a high of 70.92, registering gains of 13 paise over it's previous close.Forex dealers said, selling of American currency by exporters supported rupee.The rupee on Tuesday plunged by 13 paise to close at 71.05 against US dollar.
Forex traders said, fresh foreign fund-flows and easing crude oil prices supported rupee up move.
Foreign funds purchased shares worth Rs 159.60 crore from capital markets on a net basis, while domestic institutional investors purchased shares worth Rs 417.44 crore Tuesday, provisional data showed.The benchmark BSE Sensex was trading with gains of 84.36 points, or 0.26 per cent to quote at 36,413.32 while NSE Nifty was trading at 10,914.40, up 27.60 points, or 0.25 per cent.
Meanwhile, brent crude, global benchmark, was trading lower at 60.43 per barrel lower by 0.35 per cent.