<p>Mumbai: The rupee stayed range-bound and settled 4 paise lower at 83.50 (provisional) against the US dollar on Thursday, weighed down by unabated foreign fund outflows amid investors' weak appetite for riskier assets.</p><p>However, a firm trend in domestic equities supported the local unit and restricted its losses, forex traders said.</p><p>The rupee remains under pressure due to ongoing elections and foreign fund outflows, and the same shall subside once the results are out, they added.</p>.Rupee rises 2 paise to 83.44 against US dollar in early trade.<p>At the interbank foreign exchange market, the local unit traded in a narrow range. It opened at 83.45 and touched an intraday high of 83.44 and a low of 83.50.</p><p>The domestic unit finally settled for the day at 83.50 (provisional), down 4 paise from its previous close.</p><p>On Wednesday, the rupee had settled at 83.46 against the US dollar.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.40, higher by 0.06 per cent.</p><p>Brent crude futures, the global oil benchmark, fell 0.33 per cent to USD 82.48 per barrel.</p><p>Oil price has corrected substantially following a surge to USD 93 per barrel and is currently hovering around USD 82 per barrel. This decline in oil prices is set to have a beneficial effect on India's trade balance, especially considering that petroleum products make up 25 per cent of its total import spending, according to experts.</p><p>The reduced oil prices are anticipated to ease the strain on the trade deficit, providing a more positive outlook for the rupee.</p><p>On the domestic equity market, the 30-share BSE Sensex advanced 676.69 points, or 0.93 per cent, to close at 73,663.72 points. The broader NSE Nifty settled 203.30 points or 0.92 per cent higher at 22,403.85 points.</p><p>Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 2,832.83 crore, according to exchange data.</p>
<p>Mumbai: The rupee stayed range-bound and settled 4 paise lower at 83.50 (provisional) against the US dollar on Thursday, weighed down by unabated foreign fund outflows amid investors' weak appetite for riskier assets.</p><p>However, a firm trend in domestic equities supported the local unit and restricted its losses, forex traders said.</p><p>The rupee remains under pressure due to ongoing elections and foreign fund outflows, and the same shall subside once the results are out, they added.</p>.Rupee rises 2 paise to 83.44 against US dollar in early trade.<p>At the interbank foreign exchange market, the local unit traded in a narrow range. It opened at 83.45 and touched an intraday high of 83.44 and a low of 83.50.</p><p>The domestic unit finally settled for the day at 83.50 (provisional), down 4 paise from its previous close.</p><p>On Wednesday, the rupee had settled at 83.46 against the US dollar.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.40, higher by 0.06 per cent.</p><p>Brent crude futures, the global oil benchmark, fell 0.33 per cent to USD 82.48 per barrel.</p><p>Oil price has corrected substantially following a surge to USD 93 per barrel and is currently hovering around USD 82 per barrel. This decline in oil prices is set to have a beneficial effect on India's trade balance, especially considering that petroleum products make up 25 per cent of its total import spending, according to experts.</p><p>The reduced oil prices are anticipated to ease the strain on the trade deficit, providing a more positive outlook for the rupee.</p><p>On the domestic equity market, the 30-share BSE Sensex advanced 676.69 points, or 0.93 per cent, to close at 73,663.72 points. The broader NSE Nifty settled 203.30 points or 0.92 per cent higher at 22,403.85 points.</p><p>Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 2,832.83 crore, according to exchange data.</p>