The USDINR spot has moved below 73 levels once again and further declines can be seen if it sustains below these levels, says ICICI direct.
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Indian rupee ended higher by 8 paise at 72.88 per dollar, amid profit booking saw in the domestic equity market.
It has opened 8 paise higher at 72.88 per dollar against previous close of 72.96 and remained in the range of 72.84-72.93.
At close, the Sensex was down 19.69 points or 0.04% at 51,329.08, and the Nifty was down 6.50 points or 0.04% at 15,109.30.
At 13:29 IST, the Sensex was up 370.71 points or 0.72% at 51719.48, and the Nifty was up 111.10 points or 0.73% at 15226.90.
The USDINR spot has moved below 73 levels once again and further declines can be seen if it sustains below these levels. However, continued strength shown by dollar remains a concern, said ICICI direct.
The dollar-rupee February contract on the NSE was at Rs 73.10 in the last session. The open interest increased almost 8% for February series, it added.
The dollar languished near its lowest in a week on Tuesday as investors began entertaining doubts about the scale of a recent rally driven by expectations of a faster pandemic recovery in the United States than elsewhere.
Oil prices edged up on Tuesday to their highest in 13 months as supply cuts by major producers and optimism over fuel demand recovery support energy markets.
