Rupee gains 10 paise to 81.75 per dollar

Today’s Rupee: The rupee rose early on Tuesday as cautious risk sentiment restrained demand for the dollar.

Early on Tuesday, the rupee appreciated as investors flocked to the safe-haven dollar out of concern over China’s Covid flare-ups. Risk aversion kept the demand for the dollar in check.

In contrast to Monday’s close of 81.8475, according to Bloomberg, the rupee was last trading at 81.7525 per dollar after starting the day at 81.6963.


According to PTI, the local currency increased 7 paisa to 81.72 US cents in early trade.

Early Asia trading sentiment revealed some risk-taking in search of higher returns, despite a rise in Covid cases in Beijing prompting additional restrictions and dragging on risk assets.

However, risks from rising interest rates, which show no signs of slowing down, and their impact on global economic expansion still exist.

Nevertheless, the dollar lost a lot of its overnight gains on Tuesday as a result of investors swarming to safe-haven assets in response to China’s COVID flare-ups. The National Australia Bank’s analysts questioned the sustainability of this dollar demand, though.