The Rupia depouted 10 lands at 85.49 against the US dollar in early trade on Tuesday in the midst of a slight recovery in the US currency against the main rivals, the highest prices of crude oil and the exit of foreign funds.
The national capital volatile markets before the monetary policy ads of the Bank of the Reserve also weighed on the Indian currency, Forex merchants said.
RBI’s Monetary Policy Committee (MPC) will begin deliberations about its next bimonthly policy on June 4 and the result is scheduled to announce on June 6.
In the interbank currencies, the National Unit opened weak and remained in a narrow range, quoting 10 lower lands at 85.49 against Greenback in the initial agreements.
On Monday, La Rupia appreciated 16 lands to settle at 85.39 against the dollar.
Meanwhile, the dollar index, which measures the strength of the Greenback against a six coins basket, was quoted more at 0.23 percent to 98.86.
Brent Crude, the global oil point of oil, increased 0.51 percent to $ 64.96 per barrel in futures trade.
In the domestic capital market, the Sensex of 30 shares fell 36.42 points, or 0.04 percent, to 81.37.33, while the NIFTY fell 43.25 points or 0.17 percent to 24,673,35.
Foreign institutional investors (FII) sold shares worth ₹ 2,589.47 million rupees in a net basic on Monday, okay to exchange data.
A monthly survey published on Monday showed that the growth of the manufacturing sector of India fell to a minimum of three months in May, restricted by inflationary pressures, softer demand and geopolitical conditions.
The Indian HSBC manufacturing purchasing administrators index (PMI) was adjusted seasonally fell from 58.2 in April to 57.6 in May, highlighting the weakest improvement in operational conditions since February.
The latest government data published on Friday showed that the Indian economy expanded at a faster rate than expected in the last quarter of fiscal year 2024-25.
The 7.4 percent GDP growth rate in the January-March 2015 period reflected a strong cyclic rebound that was helped by an increase in private consumption and robust growth in construction and manufacturing.
The Government also managed to fulfill its fiscal deficit objective or 4.8 percent of GDP by 2024-25, in accordance with the provisional data published by the General Accounts Controller on Friday.
Moreover, the country’s gross GST collection remained above the ₹ 2 Lakh Crore brand for the second consecutive month, increasing 16.4 percent in May to more than ₹ 2.01 Lakh Crore. The collection of goods and services tax (GST) had touched a record of ₹ 2.37 Lakh Crore in April.