<p>Mumbai: The rupee declined 18 paise against the US dollar to close at 85.94 (provisional) on Wednesday, tracking a strengthening American currency against major crosses overseas amid uncertainties over the India-US trade pact.</p>.<p>However, renewed foreign capital inflows and sliding global crude prices supported the domestic unit, according to forex traders.</p>.<p>At the interbank foreign exchange, the rupee opened weak at 86.02 against the dollar. It traded in the range of 85.74-86.05 during the day before closing at 85.94 (provisional), down 18 paise from its previous close.</p>.Stock markets edge up amid weak global market trends, tariff-related uncertainty.<p>In the previous session, the rupee appreciated 16 paise to close at 85.76 against the US dollar.</p>.<p>"The Indian Rupee experienced notable volatility today, initially weakening against a robust US Dollar before recovering mid-session due to dollar supply, only to conclude with net losses.</p>.<p>"This movement follows a three-day consolidation phase for the USDINR pair, ranging from 85.70 to 86.05. The sentiment remains acutely favourable for the dollar, driven by expectations of a hawkish Federal Reserve post-US inflation data and persistent uncertainties regarding India-US trade agreements," Dilip Parmar, Research Analyst, HDFC Securities, said.</p>.<p>An Indian commerce ministry team is in Washington for another round of talks on the proposed bilateral trade agreement. The four-day talks, which started on Monday, will conclude on Thursday.</p>.<p>"We continue to await the outcome of the trade deal as inflows and outflows keep the rupee well entrenched in a range of 85.70 to 86.10. We expect a similar range for the rupee tomorrow (Thursday) as well," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.</p>.<p>Brent crude, the global oil benchmark, was down 0.26 per cent to $68.53 per barrel in futures trade.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, dipped 0.07 per cent to 98.54.</p>.<p>On the domestic equity market front, the Sensex rose 63.57 points to settle at 82,634.48, while the Nifty inched up 16.25 points to 25,212.05.</p>.<p>Foreign institutional investors (FIIs) bought equities worth Rs 120.47 crore on a net basis on Tuesday, according to exchange data.</p>
<p>Mumbai: The rupee declined 18 paise against the US dollar to close at 85.94 (provisional) on Wednesday, tracking a strengthening American currency against major crosses overseas amid uncertainties over the India-US trade pact.</p>.<p>However, renewed foreign capital inflows and sliding global crude prices supported the domestic unit, according to forex traders.</p>.<p>At the interbank foreign exchange, the rupee opened weak at 86.02 against the dollar. It traded in the range of 85.74-86.05 during the day before closing at 85.94 (provisional), down 18 paise from its previous close.</p>.Stock markets edge up amid weak global market trends, tariff-related uncertainty.<p>In the previous session, the rupee appreciated 16 paise to close at 85.76 against the US dollar.</p>.<p>"The Indian Rupee experienced notable volatility today, initially weakening against a robust US Dollar before recovering mid-session due to dollar supply, only to conclude with net losses.</p>.<p>"This movement follows a three-day consolidation phase for the USDINR pair, ranging from 85.70 to 86.05. The sentiment remains acutely favourable for the dollar, driven by expectations of a hawkish Federal Reserve post-US inflation data and persistent uncertainties regarding India-US trade agreements," Dilip Parmar, Research Analyst, HDFC Securities, said.</p>.<p>An Indian commerce ministry team is in Washington for another round of talks on the proposed bilateral trade agreement. The four-day talks, which started on Monday, will conclude on Thursday.</p>.<p>"We continue to await the outcome of the trade deal as inflows and outflows keep the rupee well entrenched in a range of 85.70 to 86.10. We expect a similar range for the rupee tomorrow (Thursday) as well," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.</p>.<p>Brent crude, the global oil benchmark, was down 0.26 per cent to $68.53 per barrel in futures trade.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, dipped 0.07 per cent to 98.54.</p>.<p>On the domestic equity market front, the Sensex rose 63.57 points to settle at 82,634.48, while the Nifty inched up 16.25 points to 25,212.05.</p>.<p>Foreign institutional investors (FIIs) bought equities worth Rs 120.47 crore on a net basis on Tuesday, according to exchange data.</p>