Rupee falls 28 paise to 72.90 against USD, gold gains Rs 285

Mumbai, Jun 01 (PTI): Extending losses for the second straight session, the rupee on Tuesday fell by another 28 paise to end at 72.90 against the US dollar in line with muted domestic equities.
The rupee opened on a marginally positive note at 72.57 per dollar as against its previous close of 72.62 at the interbank foreign exchange market. It hovered in the range of 72.54 to 72.94 per dollar during the day before ending at 72.90. The domestic currency has lost 45 paise in the two trading sessions to Tuesday.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.01 per cent to 89.83.
On the domestic equity market front, the BSE Sensex ended 2.56 points lower at 51,934.88, while the broader NSE Nifty fell 7.95 points or 0.05 per cent to close at 15,574.85.
Gold rose by Rs 285 to Rs 48,892 per 10 gram in the national capital on Tuesday following a rally in global precious metal prices, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 48,607 per 10 gram. Silver also jumped Rs 952 to Rs 71,850 per kilogram from Rs 70,898 per kilogram in the previous trade.
In the global market, gold was trading higher at USD 1,912 per ounce and silver was flat at USD 28.32 per ounce.
“Gold prices traded higher with spot gold prices at COMEX trading at USD 1,912 per ounce on Tuesday,” according to HDFC Securities, Senior Analyst (Commodities), Tapan Patel.
Navneet Damani, VP Commodities Research, Motilal Oswal Financial Services said, “Gold prices traded near a five-month high scaled last week, supported by a softer dollar.”