<p>Mumbai: The rupee appreciated by seven paise to close at 87.86 (provisional) against the US dollar on Thursday, supported by a positive trend in domestic equities and risk-on sentiments amid optimism about the US-India trade deal.</p>.<p>Forex traders said the rupee closed on a positive note as there is a growing buzz that India and the US are inching closer to finalizing a long-awaited trade deal.</p>.<p>At the interbank foreign exchange, the rupee opened at 87.80 and touched an intraday low of 87.96 before settling at 87.86 (provisional), registering a rise of 7 paise from its previous close.</p>.<p>On Monday, the rupee had settled nine paise higher at 87.93 against the greenback.</p>.Rupee rises 13 paise to 87.80 against US dollar in early trade.<p>Foreign exchange markets were closed on Tuesday and Wednesday due to Diwali and Diwali Balipratipada, respectively.</p>.<p>According to forex traders, investors will watch global cues, US economic data and RBI monetary signals for further directions.</p>.<p>Meanwhile, Prime Minister Narendra Modi and US President Donald Trump discussed trade issues during a phone conversation amid efforts by the two sides to repair bilateral ties that remain under strain after Washington slapped a whopping 50 per cent tariff on Indian goods.</p>.<p>In his remarks following the call on Tuesday, Trump described the India-US relationship as "great" and said, without elaborating, that the two sides are working on some "great deals".</p>.<p>Moreover, Trump has reiterated his claim that India has agreed to "stop" buying oil from Russia and would bring them down to "almost nothing" by the end of the year.</p>.<p>However, he said, it is a process and will take some time.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.14 per cent higher at 99.04.</p>.<p>Brent crude, the global oil benchmark, was trading higher by 5.32 per cent at $65.92 per barrel in futures trade.</p>.<p>On the domestic equity market front, Sensex climbed 130.06 points to settle at 84,556.40, while the Nifty rose 22.80 points to 25,891.40.</p>.<p>Foreign Institutional Investors purchased equities worth Rs 96.72 crore on Tuesday, according to exchange data.</p>
<p>Mumbai: The rupee appreciated by seven paise to close at 87.86 (provisional) against the US dollar on Thursday, supported by a positive trend in domestic equities and risk-on sentiments amid optimism about the US-India trade deal.</p>.<p>Forex traders said the rupee closed on a positive note as there is a growing buzz that India and the US are inching closer to finalizing a long-awaited trade deal.</p>.<p>At the interbank foreign exchange, the rupee opened at 87.80 and touched an intraday low of 87.96 before settling at 87.86 (provisional), registering a rise of 7 paise from its previous close.</p>.<p>On Monday, the rupee had settled nine paise higher at 87.93 against the greenback.</p>.Rupee rises 13 paise to 87.80 against US dollar in early trade.<p>Foreign exchange markets were closed on Tuesday and Wednesday due to Diwali and Diwali Balipratipada, respectively.</p>.<p>According to forex traders, investors will watch global cues, US economic data and RBI monetary signals for further directions.</p>.<p>Meanwhile, Prime Minister Narendra Modi and US President Donald Trump discussed trade issues during a phone conversation amid efforts by the two sides to repair bilateral ties that remain under strain after Washington slapped a whopping 50 per cent tariff on Indian goods.</p>.<p>In his remarks following the call on Tuesday, Trump described the India-US relationship as "great" and said, without elaborating, that the two sides are working on some "great deals".</p>.<p>Moreover, Trump has reiterated his claim that India has agreed to "stop" buying oil from Russia and would bring them down to "almost nothing" by the end of the year.</p>.<p>However, he said, it is a process and will take some time.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.14 per cent higher at 99.04.</p>.<p>Brent crude, the global oil benchmark, was trading higher by 5.32 per cent at $65.92 per barrel in futures trade.</p>.<p>On the domestic equity market front, Sensex climbed 130.06 points to settle at 84,556.40, while the Nifty rose 22.80 points to 25,891.40.</p>.<p>Foreign Institutional Investors purchased equities worth Rs 96.72 crore on Tuesday, according to exchange data.</p>