By laksh5382 
Rupee Due to heavy outflow of foreign funds, high crude oil prices and strengthening of the American currency in the overseas market, there was limited trading against the US dollar in early deals on Tuesday and it fell by 2 paise to 84.07.
Forex traders said the rupee was trading in a tight range as support from positive domestic equities was negated by foreign fund outflows. Additionally, crude oil prices have also increased by 10 per cent, widening India’s already worrisome trade deficit.
At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and traded in a tight range. It touched 84.07 in early trade, showing a decline of 7 paise over its previous close.
On Monday, the rupee recovered from its all-time low and closed 5 paise higher at 84.05 against the US dollar.
Indian rupee remained stable on Monday Reserve Bank of India (RBI) It found support near 84.08 levels, however, persistent US dollar bids from FPIs and oil companies put pressure on the local unit, said Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP.
Bhansali said, “The rupee will open flat but the watch will be on what RBI does to protect it.”
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.05 percent lower at 103.25. Global oil benchmark Brent crude fell 2.89 percent to $75.22 per barrel.
On the domestic equity market front, Sensex rose 222.53 points or 0.27 per cent to 82,195.58. Nifty increased by 57.85 points or 0.23 percent to reach 25,185.80 points.
Foreign institutional investors (FIIs) were net sellers in the capital market on Monday as they sold shares worth Rs 3,731.59 crore, according to exchange data.
On the domestic macroeconomic front, rising vegetable prices pushed retail inflation to a nine-month high of 5.49 per cent in September, according to government data released on Monday.
Consumer Price Index (CPI) based retail inflation stood at 3.65 per cent in August and 5.02 per cent in September 2023. The previous higher inflation rate was seen at 5.69 percent in December 2023.