<p>Mumbai: The rupee appreciated 2 paise to 83.84 against the US dollar in early trade on Tuesday, helped by a weak greenback against major crosses overseas and lower crude oil prices in international markets.</p><p>However, a sluggish trend in the domestic equities and fresh foreign fund outflows amid US rate cut expectations restricted the rise in the local unit, forex traders said.</p><p>At the interbank foreign exchange market, the local unit opened slightly weak at 83.87 but gained some ground to turn positive at 83.84, registering a rise of 2 paise from its previous close.</p>.Meta bans RT and other Russian state media networks claiming usage of deceptive tactics .<p>On Monday, the local unit settled at 83.86 against the US dollar.</p><p>"A decline in crude oil prices, (recent) healthy foreign institutional inflows into Indian equities, and speculation about a possible rate cut by the Federal Reserve have stirred hopes of stability. Moreover, the Reserve Bank of India is poised to step in around the crucial 84-mark, likely deploying its reserves to prevent a further slide in the rupee," said, Amit Pabari, MD, CR Forex Advisors.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.05 per cent to 100.38.</p><p>Brent crude, the international benchmark, gained 0.45 per cent to USD 73.08 per barrel in futures trade.</p><p>In the domestic equity market, the 30-share BSE Sensex fell 59.75 points, or 0.07 per cent, to 82,929.03, while the Nifty slipped 4.85 points, or 0.02 per cent, to 25,378.90.</p><p>Foreign Institutional Investors (FIIs) turned net sellers in the capital markets on Monday, as they sold shares worth Rs 1,634.98 crore, according to exchange data.</p>
<p>Mumbai: The rupee appreciated 2 paise to 83.84 against the US dollar in early trade on Tuesday, helped by a weak greenback against major crosses overseas and lower crude oil prices in international markets.</p><p>However, a sluggish trend in the domestic equities and fresh foreign fund outflows amid US rate cut expectations restricted the rise in the local unit, forex traders said.</p><p>At the interbank foreign exchange market, the local unit opened slightly weak at 83.87 but gained some ground to turn positive at 83.84, registering a rise of 2 paise from its previous close.</p>.Meta bans RT and other Russian state media networks claiming usage of deceptive tactics .<p>On Monday, the local unit settled at 83.86 against the US dollar.</p><p>"A decline in crude oil prices, (recent) healthy foreign institutional inflows into Indian equities, and speculation about a possible rate cut by the Federal Reserve have stirred hopes of stability. Moreover, the Reserve Bank of India is poised to step in around the crucial 84-mark, likely deploying its reserves to prevent a further slide in the rupee," said, Amit Pabari, MD, CR Forex Advisors.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.05 per cent to 100.38.</p><p>Brent crude, the international benchmark, gained 0.45 per cent to USD 73.08 per barrel in futures trade.</p><p>In the domestic equity market, the 30-share BSE Sensex fell 59.75 points, or 0.07 per cent, to 82,929.03, while the Nifty slipped 4.85 points, or 0.02 per cent, to 25,378.90.</p><p>Foreign Institutional Investors (FIIs) turned net sellers in the capital markets on Monday, as they sold shares worth Rs 1,634.98 crore, according to exchange data.</p>