At the interbank foreign exchange market, the rupee opened at 93.69 and fell to 93.76 before trading at 93.75 against the greenback in early deals, registering a loss of 31 paise from the previous closing level.
The rupee plunged 28 paise to settle at 93.44 against the US dollar on Tuesday, a day after losing 25 paise on Monday. The currency had gained 47 paise in the preceding two sessions.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, remained almost unchanged, down 0.01% to 98.21.Brent crude, the global oil benchmark, was trading 0.28% down at USD 98.20 per barrel in futures trade. Analysts said the crude oil prices moved above the USD 98-a-barrel level after US President Donald Trump threatened to bomb Iran in the absence of a peace agreement before Wednesday.
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Trump has said that if the ceasefire ends without an agreement, he is prepared to resume attacking Iran. “I expect to be bombing because I think that’s a better attitude to go in with,” he told CNBC’s ‘Squawk Box’.
In the domestic equity markets the 30-share Sensex was trading 362.78 points or 0.46% down at 78,910.55 in early trade, while the Nifty declined 90.70 points or 0.37% to 24,485.90.
Foreign Institutional Investors offloaded equities worth about ₹1,918.99 crore on Tuesday, according to the exchange data.
