Overview
- The currency opened at 90.26, strengthened to 89.94 intraday, and traded at 90.12, up 11 paise from Tuesday’s 90.23 close.
- Softer global benchmarks supported the move, with Brent crude at $65.17 per barrel in futures and the dollar index hovering near 98.90, slightly lower.
- Foreign institutional investors were net sellers on Tuesday, offloading equities worth Rs 1,499.81 crore, according to exchange data.
- Traders stayed cautious ahead of US inflation readings expected to shape the Federal Reserve’s policy outlook.
- India’s Income Tax Department reported net direct tax collections up about 8.82% to over Rs 18.38 lakh crore through January 11, offering a firmer domestic backdrop.