<p>Mumbai: The rupee appreciated 9 paise to close at 88.11 (provisional) against the US dollar on Friday, supported by optimism on US-India trade negotiations.</p>.<p>Likely intervention by the Reserve Bank of India (RBI) also helped the domestic unit in controlling volatility and preventing a quick depreciation, forex traders said.</p>.Rupee falls 7 paise to 88.27 against US dollar in early trade.<p>At the interbank foreign exchange, the rupee opened at 88.22, then touched an intraday low of 88.34 and a high of 88.06 against the greenback. The domestic unit finally settled at 88.11 (provisional), higher by 9 paise over its previous close.</p>.<p>There is optimism over US-India trade negotiations after Chief Economic Adviser V Anantha Nageswaran expressed optimism that the penal tariff imposed on certain imports will likely be withdrawn after November 30.</p>.<p>Nageswaran on Thursday said he expects that a solution to the tariff issues with the US is likely to arrive in the next eight to ten weeks.</p>.<p>"I hope that the penal tariff would possibly be removed by the end of November," he said at an interactive session organised by Bharat Chamber of Commerce in Kolkata on Thursday.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.17 per cent to 97.51.</p>.<p>Brent crude, the global oil benchmark, was trading 0.59 per cent lower at USD 67.04 per barrel in futures trade.</p>.<p>On the domestic equity market front, Sensex fell 387.73 points to settle at 82,626.23, while Nifty dropped 96.55 points to 25,327.05.</p>.<p>Foreign Institutional Investors bought equities worth Rs 366.69 crore on a net basis on Thursday, according to exchange data.</p>.<p>Meanwhile, trade talks between India and the US are progressing and are moving in the right direction, Commerce and Industry Minister Piyush Goyal said on Thursday.</p>.<p>He said Assistant US Trade Representative for South and Central Asia Brendan Lynch was in New Delhi on September 16 for a daylong talk with the Indian official team.</p>.<p>The talks were important as the US has imposed a steep 50 per cent tariff on Indian goods. </p>
<p>Mumbai: The rupee appreciated 9 paise to close at 88.11 (provisional) against the US dollar on Friday, supported by optimism on US-India trade negotiations.</p>.<p>Likely intervention by the Reserve Bank of India (RBI) also helped the domestic unit in controlling volatility and preventing a quick depreciation, forex traders said.</p>.Rupee falls 7 paise to 88.27 against US dollar in early trade.<p>At the interbank foreign exchange, the rupee opened at 88.22, then touched an intraday low of 88.34 and a high of 88.06 against the greenback. The domestic unit finally settled at 88.11 (provisional), higher by 9 paise over its previous close.</p>.<p>There is optimism over US-India trade negotiations after Chief Economic Adviser V Anantha Nageswaran expressed optimism that the penal tariff imposed on certain imports will likely be withdrawn after November 30.</p>.<p>Nageswaran on Thursday said he expects that a solution to the tariff issues with the US is likely to arrive in the next eight to ten weeks.</p>.<p>"I hope that the penal tariff would possibly be removed by the end of November," he said at an interactive session organised by Bharat Chamber of Commerce in Kolkata on Thursday.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.17 per cent to 97.51.</p>.<p>Brent crude, the global oil benchmark, was trading 0.59 per cent lower at USD 67.04 per barrel in futures trade.</p>.<p>On the domestic equity market front, Sensex fell 387.73 points to settle at 82,626.23, while Nifty dropped 96.55 points to 25,327.05.</p>.<p>Foreign Institutional Investors bought equities worth Rs 366.69 crore on a net basis on Thursday, according to exchange data.</p>.<p>Meanwhile, trade talks between India and the US are progressing and are moving in the right direction, Commerce and Industry Minister Piyush Goyal said on Thursday.</p>.<p>He said Assistant US Trade Representative for South and Central Asia Brendan Lynch was in New Delhi on September 16 for a daylong talk with the Indian official team.</p>.<p>The talks were important as the US has imposed a steep 50 per cent tariff on Indian goods. </p>