<p>Mumbai: The rupee gave up its gains and settled for the day lower by 2 paise at 86.07 (provisional) against the US dollar on Wednesday, on recovery in global crude oil prices and the US Dollar index.</p>.<p>A strong show in the domestic equity markets prevented steep losses in the local unit, forex traders said.</p>.<p>At the interbank foreign exchange, the rupee opened at 86.00 against the US dollar and traded in the range of 85.79-86.14 before settling at 86.07 (provisional), down 2 paise from its previous close.</p>.Markets log gains for 2nd day; Sensex, Nifty surge nearly 1% on global rally.<p>Rupee opened in the positive on a surge in domestic markets and improved global risk sentiments. Ceasefire between Israel and Iran has led to rise in risk appetite.</p>.<p>The local unit had logged its steepest single-day gain in nearly five years on Tuesday to end 73 paise higher at 86.05 against the greenback.</p>.<p>"The rupee made a high of 85.79 before oil companies stepped in and took it lower to 86.13 with the market still sceptical of the Iran-Israel ceasefire," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.</p>.<p>"We await the current account data from the RBI to gauge how it performed during 2024-25, while the IIP data is also due to be announced today (Wednesday)," he said, adding that the rupee is expected in the range of 85.75-86.50 on Thursday.</p>.<p>Brent crude, the global oil benchmark, rose 1.09 per cent to $67.87 per barrel in futures trade after US President Donald Trump claimed to have brokered a ceasefire between Iran and Israel.</p>.NSE offers Rs 1,388 crore to settle with SEBI, move ahead with IPO.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading up 0.24 per cent at 98.09.</p>.<p>Meanwhile, in the domestic equity market, Sensex jumped 700.40 points to settle at 82,755.51, while Nifty surged 200.40 points to 25,244.75.</p>.<p>Foreign institutional investors (FIIs) offloaded equities worth Rs 5,266.01 crore on a net basis on Tuesday, according to exchange data. </p>
<p>Mumbai: The rupee gave up its gains and settled for the day lower by 2 paise at 86.07 (provisional) against the US dollar on Wednesday, on recovery in global crude oil prices and the US Dollar index.</p>.<p>A strong show in the domestic equity markets prevented steep losses in the local unit, forex traders said.</p>.<p>At the interbank foreign exchange, the rupee opened at 86.00 against the US dollar and traded in the range of 85.79-86.14 before settling at 86.07 (provisional), down 2 paise from its previous close.</p>.Markets log gains for 2nd day; Sensex, Nifty surge nearly 1% on global rally.<p>Rupee opened in the positive on a surge in domestic markets and improved global risk sentiments. Ceasefire between Israel and Iran has led to rise in risk appetite.</p>.<p>The local unit had logged its steepest single-day gain in nearly five years on Tuesday to end 73 paise higher at 86.05 against the greenback.</p>.<p>"The rupee made a high of 85.79 before oil companies stepped in and took it lower to 86.13 with the market still sceptical of the Iran-Israel ceasefire," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.</p>.<p>"We await the current account data from the RBI to gauge how it performed during 2024-25, while the IIP data is also due to be announced today (Wednesday)," he said, adding that the rupee is expected in the range of 85.75-86.50 on Thursday.</p>.<p>Brent crude, the global oil benchmark, rose 1.09 per cent to $67.87 per barrel in futures trade after US President Donald Trump claimed to have brokered a ceasefire between Iran and Israel.</p>.NSE offers Rs 1,388 crore to settle with SEBI, move ahead with IPO.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading up 0.24 per cent at 98.09.</p>.<p>Meanwhile, in the domestic equity market, Sensex jumped 700.40 points to settle at 82,755.51, while Nifty surged 200.40 points to 25,244.75.</p>.<p>Foreign institutional investors (FIIs) offloaded equities worth Rs 5,266.01 crore on a net basis on Tuesday, according to exchange data. </p>