<p>Mumbai: The rupee appreciated 7 paise to 83.48 against the US dollar in early trade on Tuesday amid a fresh inflow of foreign capital and positive sentiment in the domestic equity markets.</p><p>Forex traders said the strengthening American currency weighed on the local unit though it found support due to downward movement in crude oil prices overseas.</p><p>At the interbank foreign exchange market, the local unit opened at 83.52 and gained further to 83.48 against the greenback, registering a rise of 7 paise from its previous close.</p><p>On Friday, the rupee settled 1 paisa lower at 83.55 against the US dollar.</p><p>Forex markets were closed on Monday on account of Bakri Id.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.01, higher by 0.07 per cent.</p>.Fitch Ratings raises India's growth estimates for FY25 to 7.2%.<p>Brent crude futures, the global oil benchmark, declined 0.13 per cent to $84.14 per barrel.</p><p>On the domestic equity market, the 30-share BSE Sensex rose 175.72 points, or 0.23 per cent, to 77,168.49 points. The broader NSE Nifty climbed 45.15 points, or 0.19 per cent, to 23,510.75 points.</p><p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday, as they purchased shares worth Rs 2,175.86 crore, according to exchange data.</p><p>Positive investor sentiment was attributed to strong domestic macroeconomic data which showed India's merchandise exports in May 2024 rose 9 per cent to $38.13 billion. The trade deficit, or the gap between imports and exports, during the month under review stood at $23.78 billion.</p><p>Also, the wholesale inflation rose for the third consecutive month in May at 2.61 per cent on account of the rise in prices of food articles, especially vegetables, and manufactured items.</p>
<p>Mumbai: The rupee appreciated 7 paise to 83.48 against the US dollar in early trade on Tuesday amid a fresh inflow of foreign capital and positive sentiment in the domestic equity markets.</p><p>Forex traders said the strengthening American currency weighed on the local unit though it found support due to downward movement in crude oil prices overseas.</p><p>At the interbank foreign exchange market, the local unit opened at 83.52 and gained further to 83.48 against the greenback, registering a rise of 7 paise from its previous close.</p><p>On Friday, the rupee settled 1 paisa lower at 83.55 against the US dollar.</p><p>Forex markets were closed on Monday on account of Bakri Id.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.01, higher by 0.07 per cent.</p>.Fitch Ratings raises India's growth estimates for FY25 to 7.2%.<p>Brent crude futures, the global oil benchmark, declined 0.13 per cent to $84.14 per barrel.</p><p>On the domestic equity market, the 30-share BSE Sensex rose 175.72 points, or 0.23 per cent, to 77,168.49 points. The broader NSE Nifty climbed 45.15 points, or 0.19 per cent, to 23,510.75 points.</p><p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday, as they purchased shares worth Rs 2,175.86 crore, according to exchange data.</p><p>Positive investor sentiment was attributed to strong domestic macroeconomic data which showed India's merchandise exports in May 2024 rose 9 per cent to $38.13 billion. The trade deficit, or the gap between imports and exports, during the month under review stood at $23.78 billion.</p><p>Also, the wholesale inflation rose for the third consecutive month in May at 2.61 per cent on account of the rise in prices of food articles, especially vegetables, and manufactured items.</p>