<p>Mumbai: The rupee traded in a narrow range and depreciated 4 paise to 85.63 against the US dollar in early trade on Wednesday, as market awaits the conclusion of India-US trade deal, which is at its final stage.</p><p>Forex traders said the dollar index continued to remain under pressure against major peers as traders considered the dovish hints from FED chair Jerome Powell.</p><p>At the interbank foreign exchange, the domestic unit opened at 85.59 against the greenback. In initial trade, it witnessed a low of 85.63, registering a fall of 4 paise over its previous close.</p><p>On Tuesday, the rupee appreciated 17 paise to close at 85.59 against the US dollar.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.11 per cent to 96.70.</p><p>Brent crude, the global oil benchmark, went up by 0.04 per cent to USD 67.14 per barrel in futures trade.</p>.CCI orders probe into market abuse charges against Asian Paints.<p>Hectic negotiations between India and the US entered the sixth day on Tuesday in Washington, with the talks reaching a crucial stage and New Delhi demanding greater market access for its labour-intensive goods.</p><p>The Indian team, headed by special secretary in Department of Commerce Rajesh Agrawal, is in Washington for negotiations on an interim trade agreement with the US.</p><p>The two sides are looking at finalising the talks before the July 9 deadline.</p><p>"As market awaits for the deal we expect rupee to be range bound between 85.35/95 with no particular direction," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p><p>Meanwhile, in the domestic equity market, Sensex advanced 41.24 points or 0.05 per cent to 83,738.53, while Nifty fell 4.35 points or 0.02 per cent to 25,537.45.</p><p>Foreign institutional investors (FIIs) offloaded equities worth Rs 1,970.14 crore on a net basis on Tuesday, according to exchange data.</p>
<p>Mumbai: The rupee traded in a narrow range and depreciated 4 paise to 85.63 against the US dollar in early trade on Wednesday, as market awaits the conclusion of India-US trade deal, which is at its final stage.</p><p>Forex traders said the dollar index continued to remain under pressure against major peers as traders considered the dovish hints from FED chair Jerome Powell.</p><p>At the interbank foreign exchange, the domestic unit opened at 85.59 against the greenback. In initial trade, it witnessed a low of 85.63, registering a fall of 4 paise over its previous close.</p><p>On Tuesday, the rupee appreciated 17 paise to close at 85.59 against the US dollar.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.11 per cent to 96.70.</p><p>Brent crude, the global oil benchmark, went up by 0.04 per cent to USD 67.14 per barrel in futures trade.</p>.CCI orders probe into market abuse charges against Asian Paints.<p>Hectic negotiations between India and the US entered the sixth day on Tuesday in Washington, with the talks reaching a crucial stage and New Delhi demanding greater market access for its labour-intensive goods.</p><p>The Indian team, headed by special secretary in Department of Commerce Rajesh Agrawal, is in Washington for negotiations on an interim trade agreement with the US.</p><p>The two sides are looking at finalising the talks before the July 9 deadline.</p><p>"As market awaits for the deal we expect rupee to be range bound between 85.35/95 with no particular direction," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.</p><p>Meanwhile, in the domestic equity market, Sensex advanced 41.24 points or 0.05 per cent to 83,738.53, while Nifty fell 4.35 points or 0.02 per cent to 25,537.45.</p><p>Foreign institutional investors (FIIs) offloaded equities worth Rs 1,970.14 crore on a net basis on Tuesday, according to exchange data.</p>
