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Reliance Securities Report
The Indian rupee depreciated against the U.S. dollar on Tuesday weighed down by importer buying dollars and an uptick in the dollar index.
The rupee was quoted at 73.42 compared with 73.11 in the previous session. The unit fell 0.4% on Tuesday, its biggest single session fall since June 19.
Meanwhile, most of the emerging markets and Asian currencies were weak on Tuesday and weighed on sentiments.
The dollar recovered on Tuesday moving further off a near one-month low hit last week, as rising U.S. Treasury yields prompted investors to cut short dollar positions against the euro before a European Central Bank meeting this week.
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