<p>The rupee rose 5 paise to 83.23 against the US dollar in early trade on Wednesday, recovering from its steep loss in the past two sessions amid a massive selling by foreign equity investors and a strengthening American currency.</p>.<p> Weak sentiment in the global equity markets and surging crude oil prices also weighed on the Indian currency, forex traders said.</p>.<p> At the interbank foreign exchange, the domestic unit opened at 83.23 and traded in a narrow range of 83.21 to 83.24 against the greenback. It later traded at 83.23 against the dollar, registering a gain of 5 paise from its previous close.</p>.Sensex falls 202.34 points to 65,743.13 in early trade; Nifty declines 60.55 points to 19,604.15.<p> The rupee lost 34 paise in the past two sessions. It closed 15 paise lower at 83.28 against the dollar on Tuesday, a day after registering a loss of 19 paise.</p>.<p> The downward movement of the rupee was attributed to a strengthening dollar amid a record rise in US Treasury yields. Also, the US dollar surged to a ten-month high level after a Federal Reserve policymaker hinted at a prolonged interest rate hike cycle.</p>.<p> Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.04 per cent to 106.27.</p>.<p> Brent crude futures, the global oil benchmark, were trading 0.98 per cent higher at USD 94.88 per barrel.</p>.<p> In the domestic equity market, the 30-share BSE Sensex was trading 243.26 points or 0.37 per cent lower at 65,702.21 points. The broader NSE Nifty declined 63.25 points or 0.32 per cent to 19,601.45.</p>.<p> Foreign Institutional Investors (FIIs) were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 693.47 crore, according to exchange data.</p>
<p>The rupee rose 5 paise to 83.23 against the US dollar in early trade on Wednesday, recovering from its steep loss in the past two sessions amid a massive selling by foreign equity investors and a strengthening American currency.</p>.<p> Weak sentiment in the global equity markets and surging crude oil prices also weighed on the Indian currency, forex traders said.</p>.<p> At the interbank foreign exchange, the domestic unit opened at 83.23 and traded in a narrow range of 83.21 to 83.24 against the greenback. It later traded at 83.23 against the dollar, registering a gain of 5 paise from its previous close.</p>.Sensex falls 202.34 points to 65,743.13 in early trade; Nifty declines 60.55 points to 19,604.15.<p> The rupee lost 34 paise in the past two sessions. It closed 15 paise lower at 83.28 against the dollar on Tuesday, a day after registering a loss of 19 paise.</p>.<p> The downward movement of the rupee was attributed to a strengthening dollar amid a record rise in US Treasury yields. Also, the US dollar surged to a ten-month high level after a Federal Reserve policymaker hinted at a prolonged interest rate hike cycle.</p>.<p> Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.04 per cent to 106.27.</p>.<p> Brent crude futures, the global oil benchmark, were trading 0.98 per cent higher at USD 94.88 per barrel.</p>.<p> In the domestic equity market, the 30-share BSE Sensex was trading 243.26 points or 0.37 per cent lower at 65,702.21 points. The broader NSE Nifty declined 63.25 points or 0.32 per cent to 19,601.45.</p>.<p> Foreign Institutional Investors (FIIs) were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 693.47 crore, according to exchange data.</p>