<p>Mumbai: Rupee appreciated 7 paise to 83.82 against the US dollar in morning trade on Friday, supported by significant foreign fund inflows and a positive trend in domestic equities.</p><p>Forex traders said a rise in global risk sentiments supported the rupee, while recovery in the US dollar and month-end dollar demand from importers and oil marketing companies (OMCs) weighed on investor sentiments.</p><p>At the interbank foreign exchange market, the local unit opened at 83.83, then gained ground to touch 83.82, registering a rise of 7 paise from its previous close.</p><p>On Thursday, the rupee appreciated 8 paise to close at 83.89 against the American currency.</p><p>According to forex traders, MSCI rebalancing flows could take the rupee higher.</p><p>"Some appreciation in the rupee appears likely, with anticipated MSCI inflows of around $3 billion. The rupee is likely to trade within a range of 83.75 to 83.90, while in the medium-term, a range of 83.60 to 84.05 is anticipated, with a bias towards the upside," CR Forex Advisors MD-Amit Pabari said.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.03 per cent to 101.37 points.</p><p>Brent crude, the international benchmark, gained 0.29 per cent to $80.17 per barrel in futures trade.</p><p>In the domestic equity market, the 30-share BSE Sensex advanced 227.63 points, or 0.28 per cent, to 82,362.24 points, while the Nifty was up 65.70 points, or 0.26 per cent, to 25,217.65 points.</p><p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday, as they purchased shares worth Rs 3,259.56 crore, according to exchange data.</p><p>Meanwhile, Moody's Ratings on Thursday raised India's GDP growth forecast for 2024 and 2025 calendar year to 7.2 per cent and 6.6 per cent, respectively, on strong broad-based growth.</p>
<p>Mumbai: Rupee appreciated 7 paise to 83.82 against the US dollar in morning trade on Friday, supported by significant foreign fund inflows and a positive trend in domestic equities.</p><p>Forex traders said a rise in global risk sentiments supported the rupee, while recovery in the US dollar and month-end dollar demand from importers and oil marketing companies (OMCs) weighed on investor sentiments.</p><p>At the interbank foreign exchange market, the local unit opened at 83.83, then gained ground to touch 83.82, registering a rise of 7 paise from its previous close.</p><p>On Thursday, the rupee appreciated 8 paise to close at 83.89 against the American currency.</p><p>According to forex traders, MSCI rebalancing flows could take the rupee higher.</p><p>"Some appreciation in the rupee appears likely, with anticipated MSCI inflows of around $3 billion. The rupee is likely to trade within a range of 83.75 to 83.90, while in the medium-term, a range of 83.60 to 84.05 is anticipated, with a bias towards the upside," CR Forex Advisors MD-Amit Pabari said.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.03 per cent to 101.37 points.</p><p>Brent crude, the international benchmark, gained 0.29 per cent to $80.17 per barrel in futures trade.</p><p>In the domestic equity market, the 30-share BSE Sensex advanced 227.63 points, or 0.28 per cent, to 82,362.24 points, while the Nifty was up 65.70 points, or 0.26 per cent, to 25,217.65 points.</p><p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday, as they purchased shares worth Rs 3,259.56 crore, according to exchange data.</p><p>Meanwhile, Moody's Ratings on Thursday raised India's GDP growth forecast for 2024 and 2025 calendar year to 7.2 per cent and 6.6 per cent, respectively, on strong broad-based growth.</p>