<p>Snapping its two-day losing streak, the rupee strengthened by 13 paise to settle at 73.33 against the US dollar on Wednesday helped by positive domestic equities and foreign fund inflows.</p>.<p>At the interbank forex market, the domestic unit opened at 73.53 against the US dollar, but gained ground during the day and finally settled at 73.33, registering a rise of 13 paise over its last close of 73.46 against the greenback.</p>.<p>During the session, the local unit witnessed an intra-day high of 73.29 and a low of 73.55 against the American currency.</p>.<p>Traders said investors are focusing on the RBI Monetary Policy Committee (MPC) decision. The newly-constituted MPC of the Reserve Bank began its three-day deliberations on Wednesday. The decision of the rate-setting panel will be announced on October 9.</p>.<p>"This week is the RBI MPC outcome, we expect the central bank to maintain a status quo on the back of rising inflation. The focus will be on growth projections, as since February 2020, the RBI has not given a solid economic projection," said Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.</p>.<p>Gupta further added that "we are observing an occasional bullish attempt in the dollar. And as the dollar index marches towards 94 zone, there is an uptrend in USD-INR. Also, there still persists an uncertainty in the runup to US presidential elections and this cautiousness will keep dollar bulls active".</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 93.71.</p>.<p>On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 328.73 points higher at 39,903.30 and the broader NSE Nifty rose 83 points to 11,745.40.</p>.<p>Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,101.76 crore on a net basis on Tuesday, according to provisional exchange data.</p>.<p>Brent crude futures, the global oil benchmark, fell 1.27 per cent to USD 42.11 per barrel. </p>
<p>Snapping its two-day losing streak, the rupee strengthened by 13 paise to settle at 73.33 against the US dollar on Wednesday helped by positive domestic equities and foreign fund inflows.</p>.<p>At the interbank forex market, the domestic unit opened at 73.53 against the US dollar, but gained ground during the day and finally settled at 73.33, registering a rise of 13 paise over its last close of 73.46 against the greenback.</p>.<p>During the session, the local unit witnessed an intra-day high of 73.29 and a low of 73.55 against the American currency.</p>.<p>Traders said investors are focusing on the RBI Monetary Policy Committee (MPC) decision. The newly-constituted MPC of the Reserve Bank began its three-day deliberations on Wednesday. The decision of the rate-setting panel will be announced on October 9.</p>.<p>"This week is the RBI MPC outcome, we expect the central bank to maintain a status quo on the back of rising inflation. The focus will be on growth projections, as since February 2020, the RBI has not given a solid economic projection," said Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.</p>.<p>Gupta further added that "we are observing an occasional bullish attempt in the dollar. And as the dollar index marches towards 94 zone, there is an uptrend in USD-INR. Also, there still persists an uncertainty in the runup to US presidential elections and this cautiousness will keep dollar bulls active".</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 93.71.</p>.<p>On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 328.73 points higher at 39,903.30 and the broader NSE Nifty rose 83 points to 11,745.40.</p>.<p>Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,101.76 crore on a net basis on Tuesday, according to provisional exchange data.</p>.<p>Brent crude futures, the global oil benchmark, fell 1.27 per cent to USD 42.11 per barrel. </p>