The Indian rupee rose 10 paise to 81.72 against the US dollar in early trade on Tuesday, supported by a weak US currency and increased foreign investment. Brent crude prices falling below $80 a barrel also helped, in addition to the opening of the forex and equity markets after being closed for “Maharashtra Day”. Despite this, investors are waiting on the US Federal Open Market Committee outcome on May 3 to see whether the last hike for the season will occur. Record GST collections and high manufacturing PMIs are also supporting the bullish market.
