<p>Mumbai: The rupee appreciated by 5 paise to 83.87 against the US dollar in early trade on Monday supported by weakening of the American currency in the overseas market and significant foreign fund inflows.</p><p>Forex traders said market participants are eagerly awaiting cues from the US Fed policy on Wednesday, with a rate cut all but certain. However, the magnitude of the cut remains uncertain.</p><p>Moreover, the rupee continues to hold steady within a well-defined range on active intervention by the Reserve Bank of India (RBI), they added.</p><p>At the interbank foreign exchange market, the local unit opened at 83.89, then inched further to touch 83.87, registering a rise of 5 paise from its previous close.</p><p>On Friday, the local unit settled higher by 4 paise at 83.92 against the US dollar.</p><p>"Despite a significant drop in the dollar index and crude oil prices remaining under control in recent sessions, alongside inflation figures staying below the Central Bank's 4 per cent target for the second consecutive month, the rupee has held steady," CR Forex Advisors MD Amit Pabari said.</p><p>Pabari further added that this stability is largely due to the RBI's persistent intervention on the buying side, reflected in the build-up of reserves, which have now reached an all-time high of around $690 billion.</p>.<p>India's forex reserves jumped $5.248 billion to a new all-time high of $689.235 billion for the week ended September 6, the Reserve Bank of India said on Friday.</p><p>The overall kitty had jumped by $2.299 billion to a record $683.987 billion for the previous reporting week.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.26 per cent to 100.85 points.</p><p>Brent crude, the international benchmark, gained 0.15 per cent to $71.72 per barrel in futures trade.</p><p>In the domestic equity market, the 30-share BSE Sensex advanced 128.95 points, or 0.16 per cent, to 83,019.89 points, while the Nifty was up 46.00 points, or 0.18 per cent, to 25,402.50 points.</p><p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday, as they purchased shares worth Rs 2,364.82 crore, according to exchange data.</p>
<p>Mumbai: The rupee appreciated by 5 paise to 83.87 against the US dollar in early trade on Monday supported by weakening of the American currency in the overseas market and significant foreign fund inflows.</p><p>Forex traders said market participants are eagerly awaiting cues from the US Fed policy on Wednesday, with a rate cut all but certain. However, the magnitude of the cut remains uncertain.</p><p>Moreover, the rupee continues to hold steady within a well-defined range on active intervention by the Reserve Bank of India (RBI), they added.</p><p>At the interbank foreign exchange market, the local unit opened at 83.89, then inched further to touch 83.87, registering a rise of 5 paise from its previous close.</p><p>On Friday, the local unit settled higher by 4 paise at 83.92 against the US dollar.</p><p>"Despite a significant drop in the dollar index and crude oil prices remaining under control in recent sessions, alongside inflation figures staying below the Central Bank's 4 per cent target for the second consecutive month, the rupee has held steady," CR Forex Advisors MD Amit Pabari said.</p><p>Pabari further added that this stability is largely due to the RBI's persistent intervention on the buying side, reflected in the build-up of reserves, which have now reached an all-time high of around $690 billion.</p>.<p>India's forex reserves jumped $5.248 billion to a new all-time high of $689.235 billion for the week ended September 6, the Reserve Bank of India said on Friday.</p><p>The overall kitty had jumped by $2.299 billion to a record $683.987 billion for the previous reporting week.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.26 per cent to 100.85 points.</p><p>Brent crude, the international benchmark, gained 0.15 per cent to $71.72 per barrel in futures trade.</p><p>In the domestic equity market, the 30-share BSE Sensex advanced 128.95 points, or 0.16 per cent, to 83,019.89 points, while the Nifty was up 46.00 points, or 0.18 per cent, to 25,402.50 points.</p><p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday, as they purchased shares worth Rs 2,364.82 crore, according to exchange data.</p>