<p>Mumbai: The rupee appreciated 4 paise to close at 85.64 (provisional) against the US dollar on Monday, supported by a firm trend in domestic equities and foreign capital inflows.</p>.<p>However, elevated global crude oil prices and the US dollar against major rivals overseas restricted its rise, traders said.</p>.<p>The rupee benefited from the initial reaction to the <a href="https://www.deccanherald.com/business/rbi-delivers-a-surprise-jumbo-rate-cut-emis-to-fall-3575295">RBI rate cut</a>, but the aggressive rate cut narrows the interest rate differential with global peers, they added.</p>.Faster transmission of RBI rate cut expected this time.<p>At the interbank foreign exchange, the domestic unit witnessed a volatile trading session. It opened at 85.61 and moved between a high of 85.45 and a low of 85.72 against the greenback.</p>.<p>The local unit pared all its initial gains and settled in positive territory, 4 paise higher at 85.64 (provisional) against the American currency.</p>.<p>On Friday, the rupee surged 11 paise to close at 85.68 against the US dollar, after the Reserve Bank cut the repo rate by a higher-than-expected 50 basis points to prop up growth.</p>.<p>In the domestic equity market, the 30-share BSE Sensex surged 256.22 points, or 0.31 per cent, to close at 82,445.21, while the Nifty rallied 100.15 points, or 0.40 per cent, to 25,103.20.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.35 per cent at 98.84.</p>.<p>Brent crude, the global oil benchmark, rose 0.24 per cent to $66.63 per barrel in futures trade.</p>.<p>Foreign institutional investors (FIIs) purchased equities worth Rs 1,009.71 crore on a net basis on Friday, according to exchange data.</p>
<p>Mumbai: The rupee appreciated 4 paise to close at 85.64 (provisional) against the US dollar on Monday, supported by a firm trend in domestic equities and foreign capital inflows.</p>.<p>However, elevated global crude oil prices and the US dollar against major rivals overseas restricted its rise, traders said.</p>.<p>The rupee benefited from the initial reaction to the <a href="https://www.deccanherald.com/business/rbi-delivers-a-surprise-jumbo-rate-cut-emis-to-fall-3575295">RBI rate cut</a>, but the aggressive rate cut narrows the interest rate differential with global peers, they added.</p>.Faster transmission of RBI rate cut expected this time.<p>At the interbank foreign exchange, the domestic unit witnessed a volatile trading session. It opened at 85.61 and moved between a high of 85.45 and a low of 85.72 against the greenback.</p>.<p>The local unit pared all its initial gains and settled in positive territory, 4 paise higher at 85.64 (provisional) against the American currency.</p>.<p>On Friday, the rupee surged 11 paise to close at 85.68 against the US dollar, after the Reserve Bank cut the repo rate by a higher-than-expected 50 basis points to prop up growth.</p>.<p>In the domestic equity market, the 30-share BSE Sensex surged 256.22 points, or 0.31 per cent, to close at 82,445.21, while the Nifty rallied 100.15 points, or 0.40 per cent, to 25,103.20.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.35 per cent at 98.84.</p>.<p>Brent crude, the global oil benchmark, rose 0.24 per cent to $66.63 per barrel in futures trade.</p>.<p>Foreign institutional investors (FIIs) purchased equities worth Rs 1,009.71 crore on a net basis on Friday, according to exchange data.</p>