<p>Mumbai: The rupee appreciated 5 paise to close at 83.32 (provisional) against the US dollar on Wednesday, helped by a bullish trend in domestic equities and sustained foreign fund inflows.</p>.<p>Forex traders said elevated American currency in the overseas markets and dollar buying by the Reserve Bank of India (RBI) capped sharp gains for the local unit.</p>.<p>The rupee consolidated in a narrow range as investors remained on the sidelines ahead of the RBI's monetary policy decision later this week.</p>.Rupee rises 2 paise to 83.35 against US dollar in early trade.<p>At the interbank foreign exchange market, the local unit opened at 83.35 against the greenback.</p>.<p>The rupee oscillated between an intra-day low of 83.37 and a high of 83.29 against the greenback and finally settled at 83.32 (provisional) against the dollar, higher by 5 paise from its previous close, even as domestic benchmark indices touched new lifetime peaks.</p>.<p>On Tuesday, the rupee settled at 83.37 against the dollar.</p>.<p>"We expect the rupee to trade with a slight negative bias on positive tone in the US Dollar and fresh foreign inflows. A weak tone in crude oil prices and positive domestic markets may also support the rupee."</p>.<p>"However, the RBI intervention may cap the sharp upside. Traders may take cues from US ADP Trade balance and non-farm employment change data. Investors may remain cautious ahead of RBI's monetary policy decision on Friday," said Anuj Choudhary Research Analyst, Sharekhan by BNP Paribas.</p>.<p>The Reserve Bank is likely to maintain the status quo on the short-term interest rate in its monetary policy review.</p>.<p>RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) is scheduled to begin its three-day deliberations on December 6. Das will unveil the decision of the six-member MPC on December 8.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.07 per cent lower at 103.97.</p>.<p>Brent crude futures, the global oil benchmark, declined 0.38 per cent to $76.91 per barrel.</p>.Rupee rises 2 paise to 83.35 against US dollar in early trade.<p>On the domestic equity market front, Sensex surged 357.59 points, or 0.52 per cent, to settle at its all-time high of 69,653.73 points. The Nifty advanced 82.60 points, or 0.4 per cent, to hit a record 20,937.70.</p>.<p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 5,223.51 crore, according to exchange data. </p>
<p>Mumbai: The rupee appreciated 5 paise to close at 83.32 (provisional) against the US dollar on Wednesday, helped by a bullish trend in domestic equities and sustained foreign fund inflows.</p>.<p>Forex traders said elevated American currency in the overseas markets and dollar buying by the Reserve Bank of India (RBI) capped sharp gains for the local unit.</p>.<p>The rupee consolidated in a narrow range as investors remained on the sidelines ahead of the RBI's monetary policy decision later this week.</p>.Rupee rises 2 paise to 83.35 against US dollar in early trade.<p>At the interbank foreign exchange market, the local unit opened at 83.35 against the greenback.</p>.<p>The rupee oscillated between an intra-day low of 83.37 and a high of 83.29 against the greenback and finally settled at 83.32 (provisional) against the dollar, higher by 5 paise from its previous close, even as domestic benchmark indices touched new lifetime peaks.</p>.<p>On Tuesday, the rupee settled at 83.37 against the dollar.</p>.<p>"We expect the rupee to trade with a slight negative bias on positive tone in the US Dollar and fresh foreign inflows. A weak tone in crude oil prices and positive domestic markets may also support the rupee."</p>.<p>"However, the RBI intervention may cap the sharp upside. Traders may take cues from US ADP Trade balance and non-farm employment change data. Investors may remain cautious ahead of RBI's monetary policy decision on Friday," said Anuj Choudhary Research Analyst, Sharekhan by BNP Paribas.</p>.<p>The Reserve Bank is likely to maintain the status quo on the short-term interest rate in its monetary policy review.</p>.<p>RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) is scheduled to begin its three-day deliberations on December 6. Das will unveil the decision of the six-member MPC on December 8.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.07 per cent lower at 103.97.</p>.<p>Brent crude futures, the global oil benchmark, declined 0.38 per cent to $76.91 per barrel.</p>.Rupee rises 2 paise to 83.35 against US dollar in early trade.<p>On the domestic equity market front, Sensex surged 357.59 points, or 0.52 per cent, to settle at its all-time high of 69,653.73 points. The Nifty advanced 82.60 points, or 0.4 per cent, to hit a record 20,937.70.</p>.<p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 5,223.51 crore, according to exchange data. </p>