<p>Mumbai: The rupee appreciated by 6 paise to 83.31 against the US dollar on Tuesday amid softening crude oil prices in the international market.</p><p>Forex traders said, however, the local unit faced some resistance due to subdued sentiment in the domestic equity market and a stronger American currency.</p><p>At the interbank foreign exchange market, the local unit opened strong at 83.32 and inched up further to trade at 83.31 against the greenback, registering a gain of 6 paise from its previous closing level.</p><p>On Friday, the rupee had settled 13 paise higher at 83.37 against the US dollar. The forex markets were closed on Monday on account of general elections.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.57, higher by 0.11 per cent.</p><p>Analysts attributed the strengthening dollar to higher US treasury yields even as the Federal Reserve has indicated that it needs more time to assess the progress on inflation.</p><p>Brent crude futures, the global oil benchmark, declined 0.54 per cent to USD 83.26 per barrel.</p><p>On the domestic equity market, the 30-share BSE Sensex was trading 71.18 points, or 0.10 per cent lower at 73,934.76 points. The broader NSE Nifty was down 12.00 points, or 0.05 per cent, to 22,490.00 points.</p><p>Foreign Institutional Investors (FIIs) were net sellers in the capital markets during a special trading session on Saturday, as they offloaded shares worth Rs 92.95 crore, according to exchange data.</p>
<p>Mumbai: The rupee appreciated by 6 paise to 83.31 against the US dollar on Tuesday amid softening crude oil prices in the international market.</p><p>Forex traders said, however, the local unit faced some resistance due to subdued sentiment in the domestic equity market and a stronger American currency.</p><p>At the interbank foreign exchange market, the local unit opened strong at 83.32 and inched up further to trade at 83.31 against the greenback, registering a gain of 6 paise from its previous closing level.</p><p>On Friday, the rupee had settled 13 paise higher at 83.37 against the US dollar. The forex markets were closed on Monday on account of general elections.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.57, higher by 0.11 per cent.</p><p>Analysts attributed the strengthening dollar to higher US treasury yields even as the Federal Reserve has indicated that it needs more time to assess the progress on inflation.</p><p>Brent crude futures, the global oil benchmark, declined 0.54 per cent to USD 83.26 per barrel.</p><p>On the domestic equity market, the 30-share BSE Sensex was trading 71.18 points, or 0.10 per cent lower at 73,934.76 points. The broader NSE Nifty was down 12.00 points, or 0.05 per cent, to 22,490.00 points.</p><p>Foreign Institutional Investors (FIIs) were net sellers in the capital markets during a special trading session on Saturday, as they offloaded shares worth Rs 92.95 crore, according to exchange data.</p>