<p>Mumbai: The rupee rose 26 paise to close at 85.68 (provisional) against the US dollar on Tuesday on the back of a decline in global crude oil prices and a weaker greenback.</p>.<p>Foreign fund inflows and firm domestic equity markets further boosted the rupee, according to forex traders.</p>.<p>At the interbank foreign exchange, the rupee opened at 85.75 against the US dollar and traded in a narrow range of 85.64-85.80 before settling at 85.68 (provisional), up 26 paise from the previous close.</p>.<p>The local unit logged a steep fall of 54 paise to settle at 85.94 against the US dollar on Monday.</p>.<p>"The rupee was range bound with chances of a US-India (pact) being concluded today (Tuesday), keeping rupee on an upward trend. The closing was slightly higher but a conclusive mini-trade deal could allow rupee to gain once again towards 85.30/40 levels," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.</p>.<p>The local unit is expected to be in the range of 85.30-86.00 on Wednesday with expectations of some positive developments tonight, he said.</p>.<p>Brent crude, the global oil benchmark, was down 0.55 per cent to USD 69.20 per barrel in futures trade.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.18 per cent to 97.30.</p>.<p>Meanwhile, at the domestic equity market, the Sensex rose 270.01 points to settle at 83,712.51, while the Nifty gained 61.20 points to close at 25,522.50.</p>.<p>Foreign institutional investors (FIIs) purchased equities worth Rs 321.16 crore on a net basis on Monday, according to exchange data.</p>
<p>Mumbai: The rupee rose 26 paise to close at 85.68 (provisional) against the US dollar on Tuesday on the back of a decline in global crude oil prices and a weaker greenback.</p>.<p>Foreign fund inflows and firm domestic equity markets further boosted the rupee, according to forex traders.</p>.<p>At the interbank foreign exchange, the rupee opened at 85.75 against the US dollar and traded in a narrow range of 85.64-85.80 before settling at 85.68 (provisional), up 26 paise from the previous close.</p>.<p>The local unit logged a steep fall of 54 paise to settle at 85.94 against the US dollar on Monday.</p>.<p>"The rupee was range bound with chances of a US-India (pact) being concluded today (Tuesday), keeping rupee on an upward trend. The closing was slightly higher but a conclusive mini-trade deal could allow rupee to gain once again towards 85.30/40 levels," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.</p>.<p>The local unit is expected to be in the range of 85.30-86.00 on Wednesday with expectations of some positive developments tonight, he said.</p>.<p>Brent crude, the global oil benchmark, was down 0.55 per cent to USD 69.20 per barrel in futures trade.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.18 per cent to 97.30.</p>.<p>Meanwhile, at the domestic equity market, the Sensex rose 270.01 points to settle at 83,712.51, while the Nifty gained 61.20 points to close at 25,522.50.</p>.<p>Foreign institutional investors (FIIs) purchased equities worth Rs 321.16 crore on a net basis on Monday, according to exchange data.</p>