INR rebounds in opening trades led by sharp plunge in oil prices
Mumbai, Nov. 3 -- The Indian rupee appreciated against the US dollar in early trade on Tuesday, buoyed by sharp slide in crude oil prices and inflows of foreign funds into domestic equities. However, a strong US dollar ahead of the crucial midterm election in the US kept investors worldwide cautious, capping gains in the local currency. At the interbank foreign exchange market, the rupee opened at 94.68 and strengthened to 94.60 before trading at 94.82 against the greenback, almost flat from its previous close. Indian shares opened on a buoyant note on Tuesday, extending gains for a fourth consecutive session as Brent oil prices slumped to $105 a barrel amid hopes of a de-escalation in the Middle East conflict. The 30-share BSE Sensex was...
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