The Indian rupee depreciated by 0.12 paise to Rs 68.2125 against the US dollar on Tuesday as the RBI has kept the policy repo rate unchanged at 6.75 per cent citing inflation concerns. The RBI decided to keep key policy rates unchanged even though it maintained that it would use any available space that emerges to reduce interest rates. While explaining its policy stance, RBI said it would watch for continued fiscal consolidation and the direction of global commodity prices as it assesses the room for further rate reductions. Further, bouts of dollar demand from importers as well as a lower opening at the domestic equity market weakened the local unit.
At MCXSX, USDINR for February 2016 contract traded at Rs. 68.2125 per dollar, rupee depreciated by 0.12 paise, after opening at Rs. 68.1250 against the previous closing price of Rs. 68.1325. Rupee declined to Rs. 68.2750 per dollar with a business volume of 894650 lots till the trading. (At 2.45 PM today).
At the Chicago Mercantile Exchange (CME), EURUSD future traded at US$1.0916 per euro (USD depreciated by 0.24 per cent against EUR) and GBPUSD future traded at US$1.4369 per pound (USD appreciated by 0.38 per cent against GBP) (At 2.45 PM today).
S&P CNX NIFTY, at NSE, was trading at 7,500.85, down by 0.73 per cent, after opening at 7,566.65 against the previous closing of 7,555.95. It touched the intra-day low of 7,496.20 till the trading. (At 2.45 PM today).