By laksh5382 
Rupee recovers from its all-time low and rises 8 paise to 84.78 us dollar Fresh foreign fund inflows and positive trend in domestic equities supported the trend in morning trade on Tuesday.
The government on Monday appointed Revenue Secretary Sanjay Malhotra as the 26th Governor of the Reserve Bank of India.
foreign exchange Traders said Shaktikanta Das’ departure created uncertainty as there were policies during his tenure that saved the rupee from a sharp decline. “Adding to this volatility, Sanjay Malhotra’s stance of prioritizing economic stability over revenue concerns evoked mixed reactions,” said Amit Pabari, MD, CR Forex Advisors.
At the interbank foreign exchange, the rupee opened at 84.80 and moved in a narrow range to touch 84.78 against the greenback, registering a gain of 8 paise over its previous close. Later it was trading at 84.82 against the dollar.
On Monday, the rupee witnessed its biggest fall in more than a month and fell 20 paise to close at an all-time low of 84.86 against the US dollar.
“It depends on what decisions the new governor takes to deal with the rupee weakness or whether he follows the policies of his predecessor,” said Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP. ” He said, ‘Weakness in rupee will continue for now reserve Bank of India The Governor decides on another path.
Shaktikanta Das, who will step down as Governor of the Reserve Bank of India on Tuesday, was the key figure behind the planning and implementation of the demonetisation drive and the rollout of the landmark Goods and Services Tax (GST). At RBI, he led India’s monetary policy response during the challenging period of the pandemic.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 106.15, unchanged from its previous close.
Global oil benchmark Brent crude fell 0.36 percent to $71.88 a barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 83.08 points or 0.10 per cent higher at 81,591.54. Nifty rose 23.35 points or 0.09 percent to reach 24,642.35.
Foreign institutional investors (FIIs) were net buyers in the capital market on Monday as they bought shares worth ₹724.27 crore, according to exchange data.