Rupee regains 11 paise against USD amid ease in US-Iran tussle

The Indian rupee on Tuesday reclaimed some lost ground, rising 11 paise to close at 71.82 against the US dollar as receding fears of a larger conflict in the Middle East helped crude oil prices ease. Besides, a rebound in the domestic equity markets also supported the rupee.

At the interbank foreign exchange, the rupee opened on a positive note at 71.73 against the US currency. During the session, the domestic currency stayed strong and swung between a low of 71.87 and a high of 71.68. It finally closed at 71.82, showing a gain of 11 paise over its previous closing.

The rupee had slipped 13 paise to 71.93 against the greenback on Monday. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 per cent to 96.78. Brent futures, the global oil benchmark, fell 0.62 per cent to USD 68.48 per barrel. On the equity market front, the BSE benchmark Sensex ended 192.84 points, or 0.47 per cent, higher at 40,869.47. While, the broader Nifty rose 59.90 points, or 0.50 per cent, to finish at 12,052.95.