<p>Mumbai: The rupee rose 8 paise to 86.03 (provisional) against the US dollar on Monday amid a strong show at the domestic equity markets, weakening dollar, and easing of global crude oil prices.</p>.<p>However, decline in exports, along with foreign fund outflows, capped further gains in the local unit, forex traders said.</p>.<p>At the interbank foreign exchange, the local unit opened at 86.16 against the greenback and traded in the range of 85.94-86.24 before closing at 86.03 (provisional), up 8 paise from its previous close.</p>.<p>The rupee had plummeted 59 paise to 86.11 against the US dollar on Friday.</p>.<p>The rupee regained, "but there was good dollar buying at lower levels as markets awaited the outcome of the continuing Iran-Israel war in the Middle East", Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said, adding that the rupee level could be in a wider range of 85.75 to 86.50 on Tuesday.</p>.India’s trade deficit narrows to $21.88 billion in May.<p>India's exports declined 2.17 per cent to $38.73 billion in May, while trade deficit stood at $21.88 billion in the month, the latest government data showed on Monday.</p>.<p>Imports declined 1.7 per cent year-on-year to $60.61 billion in May.</p>.<p>Wholesale price inflation (WPI) in the country declined to 0.39 per cent in May as prices of food articles, manufactured products, and fuel eased, as per government data.</p>.<p>WPI-based inflation was 0.85 per cent in April. It was 2.74 per cent in May last year.</p>.<p>Meanwhile, in the domestic equity market, the 30-share BSE Sensex jumped 677.55 points to settle at 81,796.15 while Nifty climbed 227.90 points to 24,946.50.</p>.<p>The prices of Brent crude -- the global oil benchmark -- dipped 0.79 per cent to 73.64 per barrel in futures trade after rising sharply over the past few days owing to the escalating Israel-Iran conflict.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.20 per cent to 97.98.</p>.<p>India's forex reserves increased USD 5.17 billion to USD 696.65 billion for the week ended June 6, the Reserve Bank of India said on Friday.</p>.<p>Foreign institutional investors (FIIs) offloaded equities worth Rs 1,263.52 crore on a net basis on Friday, according to exchange data. </p>
<p>Mumbai: The rupee rose 8 paise to 86.03 (provisional) against the US dollar on Monday amid a strong show at the domestic equity markets, weakening dollar, and easing of global crude oil prices.</p>.<p>However, decline in exports, along with foreign fund outflows, capped further gains in the local unit, forex traders said.</p>.<p>At the interbank foreign exchange, the local unit opened at 86.16 against the greenback and traded in the range of 85.94-86.24 before closing at 86.03 (provisional), up 8 paise from its previous close.</p>.<p>The rupee had plummeted 59 paise to 86.11 against the US dollar on Friday.</p>.<p>The rupee regained, "but there was good dollar buying at lower levels as markets awaited the outcome of the continuing Iran-Israel war in the Middle East", Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said, adding that the rupee level could be in a wider range of 85.75 to 86.50 on Tuesday.</p>.India’s trade deficit narrows to $21.88 billion in May.<p>India's exports declined 2.17 per cent to $38.73 billion in May, while trade deficit stood at $21.88 billion in the month, the latest government data showed on Monday.</p>.<p>Imports declined 1.7 per cent year-on-year to $60.61 billion in May.</p>.<p>Wholesale price inflation (WPI) in the country declined to 0.39 per cent in May as prices of food articles, manufactured products, and fuel eased, as per government data.</p>.<p>WPI-based inflation was 0.85 per cent in April. It was 2.74 per cent in May last year.</p>.<p>Meanwhile, in the domestic equity market, the 30-share BSE Sensex jumped 677.55 points to settle at 81,796.15 while Nifty climbed 227.90 points to 24,946.50.</p>.<p>The prices of Brent crude -- the global oil benchmark -- dipped 0.79 per cent to 73.64 per barrel in futures trade after rising sharply over the past few days owing to the escalating Israel-Iran conflict.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.20 per cent to 97.98.</p>.<p>India's forex reserves increased USD 5.17 billion to USD 696.65 billion for the week ended June 6, the Reserve Bank of India said on Friday.</p>.<p>Foreign institutional investors (FIIs) offloaded equities worth Rs 1,263.52 crore on a net basis on Friday, according to exchange data. </p>