Dollar closed at 65.0250 against its opening at 64.6400. Dollar ended up after oil prices surged to their highest levels since the summer of 2015 as a major political shake-up in Saudi Arabia supported a rally fuelled by geopolitical risk. Also, Nigeria's oil minister signalled his country may contribute to OPEC-led output cuts to help bolster the market. OPEC has aimed to keep 1.8 million barrels a day off the market this year to shrink brimming global crude stockpiles. The greenback faltered against its major peers as investors remain worried regarding US tax reform becoming a law given that the US debt would rise massively on back of it.
Meanwhile, the Federal Reserve Bank of New York confirmed that William Dudley, expected to step down early and retire in the middle of next year. Asian stocks traded on a positive note Tuesday with a regional index trading at its highest in a decade, as energy and materials companies benefited from a surge in oil and metals prices.
Sensex provisionally ends 370.28 points lower at 33,360.91 points with 25 components in red.
INTERNATIONAL
Asian shares rallied to their highest in a decade on Tuesday, while oil prices gave up some of their gains having previously surged to a more than two-year peak on an anti-corruption purge by Saudi Arabia's crown prince.
Aussie posted a mild rebound as the central bank held rates steady and pointed to wages and house prices as areas of focus as investors look ahead to remarks fby President in South Korea.
Gold prices dipped in Asia on Tuesday as investors continued to eye political risk in the Middle East but shied away from new buying as the dollar rebounded regionally.
Crude oil prices gained slightly in Asia on Tuesday with turmoil in the Middle East and top exporter Saudi Arabia in focus as well as weekly U.S. estimates of inventories.