<p>Mumbai: The rupee consolidated in a narrow range and settled for the day lower by 7 paise at 83.55 (provisional) against the US dollar on Thursday even as both the domestic equity benchmark indices touched all-time high levels.</p><p>Forex traders said rupee was seen resilient against the dollar, even after volatility witnessed in the dollar index, due to CPI data and US Fed's policy decision.</p><p>At the interbank foreign exchange, the local unit opened at 83.52 and finally settled for the day lower by 7 paise at 83.55 (provisional) against the American currency.</p>.Rupee falls 6 paise to 83.54 against US dollar in early trade.<p>On Wednesday, the rupee appreciated 11 paise to close at 83.48 against the US dollar.</p><p>"Rupee traded sideways in a range of 83.52-83.57 with stability. Even after volatility witnessed in the dollar index, due to CPI data and Fed's policy decision, the rupee was seen resilient against the dollar.</p><p>"Now the trend in rupee will remain range bound but underlying tone remains weak as rupee consolidation continues near all-time low. Major fall in dollar below USD 103 only will give strong rupee buying above 83.00 till then 83.20-83.75 approx range will be seen," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.81, higher by 0.17 per cent.</p><p>Brent crude futures, the global oil benchmark, declined 0.84 per cent to USD 81.91 per barrel.</p><p>On the domestic macroeconomic front, India's industrial production growth slipped to 3-month low of 5 per cent in April 2024, mainly due to poor show by the manufacturing sector, though mining and power segments performed well, according to official data.</p><p>Meanwhile, retail inflation continued its downward slide to reach a one-year low of 4.75 per cent in May due to a marginal decline of prices in the food basket and remained within the Reserve Bank's comfort zone of below 6 per cent, according to government data released on Wednesday.</p><p>On the domestic equity market, the 30-share BSE Sensex rose 204.33 points, or 0.27 per cent, to close at a new peak of 76,810.90 points. The broader NSE Nifty settled 75.95 points or 0.33 per cent higher at a record level of 23,398.90 points.</p><p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Wednesday as they purchased shares worth Rs 426.63 crore, according to exchange data.</p>
<p>Mumbai: The rupee consolidated in a narrow range and settled for the day lower by 7 paise at 83.55 (provisional) against the US dollar on Thursday even as both the domestic equity benchmark indices touched all-time high levels.</p><p>Forex traders said rupee was seen resilient against the dollar, even after volatility witnessed in the dollar index, due to CPI data and US Fed's policy decision.</p><p>At the interbank foreign exchange, the local unit opened at 83.52 and finally settled for the day lower by 7 paise at 83.55 (provisional) against the American currency.</p>.Rupee falls 6 paise to 83.54 against US dollar in early trade.<p>On Wednesday, the rupee appreciated 11 paise to close at 83.48 against the US dollar.</p><p>"Rupee traded sideways in a range of 83.52-83.57 with stability. Even after volatility witnessed in the dollar index, due to CPI data and Fed's policy decision, the rupee was seen resilient against the dollar.</p><p>"Now the trend in rupee will remain range bound but underlying tone remains weak as rupee consolidation continues near all-time low. Major fall in dollar below USD 103 only will give strong rupee buying above 83.00 till then 83.20-83.75 approx range will be seen," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.81, higher by 0.17 per cent.</p><p>Brent crude futures, the global oil benchmark, declined 0.84 per cent to USD 81.91 per barrel.</p><p>On the domestic macroeconomic front, India's industrial production growth slipped to 3-month low of 5 per cent in April 2024, mainly due to poor show by the manufacturing sector, though mining and power segments performed well, according to official data.</p><p>Meanwhile, retail inflation continued its downward slide to reach a one-year low of 4.75 per cent in May due to a marginal decline of prices in the food basket and remained within the Reserve Bank's comfort zone of below 6 per cent, according to government data released on Wednesday.</p><p>On the domestic equity market, the 30-share BSE Sensex rose 204.33 points, or 0.27 per cent, to close at a new peak of 76,810.90 points. The broader NSE Nifty settled 75.95 points or 0.33 per cent higher at a record level of 23,398.90 points.</p><p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Wednesday as they purchased shares worth Rs 426.63 crore, according to exchange data.</p>