Mumbai: The rupee was trading steady at 83.49 against the American currency in the early session on Tuesday amid fall in domestic stock markets and softening of crude oil prices.
The rupee opened at 83.49 against the US dollar in the interbank foreign exchange market. In early trade, the local currency remained in a tight range of 83.49 to 83.50 against the greenback.
The rupee closed 1 paise higher at 83.49 against the US dollar on Monday ahead of US Federal Reserve Chairman Jerome Powell's key testimony before Congress.
Powell's testimony did not provide any new guidance on the US central bank's plans for when it might cut interest rates.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.03 percent from an overnight high at 105.09.
Global oil benchmark Brent crude fell 0.26 per cent to US$84.44 per barrel in futures trade.
In the domestic equity market, the 30-share BSE Sensex closed at 80,208.49, down 143.15 points or 0.18 per cent. The broader NSE Nifty fell 27.20 points, or 0.11 per cent, to 24,406.
Foreign institutional investors (FIIs) were net buyers in the capital market on Tuesday as they bought shares worth Rs 314.46 crore, according to exchange data.
The rupee opened at 83.49 against the US dollar in the interbank foreign exchange market. In early trade, the local currency remained in a tight range of 83.49 to 83.50 against the greenback.
The rupee closed 1 paise higher at 83.49 against the US dollar on Monday ahead of US Federal Reserve Chairman Jerome Powell's key testimony before Congress.
Powell's testimony did not provide any new guidance on the US central bank's plans for when it might cut interest rates.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.03 percent from an overnight high at 105.09.
Global oil benchmark Brent crude fell 0.26 per cent to US$84.44 per barrel in futures trade.
In the domestic equity market, the 30-share BSE Sensex closed at 80,208.49, down 143.15 points or 0.18 per cent. The broader NSE Nifty fell 27.20 points, or 0.11 per cent, to 24,406.
Foreign institutional investors (FIIs) were net buyers in the capital market on Tuesday as they bought shares worth Rs 314.46 crore, according to exchange data.
