<p> The rupee appreciated 3 paise to 83.22 against the US dollar on Wednesday, tracking cues from positive equity markets and a weaker American currency against major rivals overseas.</p>.<p> However, selling pressure from foreign equity investors weighed on the Indian currency, forex traders said.</p>.<p> At the interbank foreign exchange, the rupee opened at 83.20 and then touched 83.22 against the greenback, up 3 paise from its previous close.</p>.<p> On Tuesday, the rupee settled at 83.25 against the US dollar.</p>.IMF says 'weak tail' of banks could struggle in an economic downturn.<p> The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 105.77.</p>.<p> Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services, said the rupee traded within a narrow range even after more updates came in on the escalating conflict in Israel.</p>.<p> According to him, traders are expected to remain watchful of the US Federal Open Market Committee (FOMC) minutes that may indicate more interest rate hikes, adding strength to dollar.</p>.<p> 'We expect the USD-INR (spot) to trade sideways and quote in the range of 83.05 and 83.40,' Somaiya added.</p>.<p> Brent crude futures, the global oil benchmark, rose 0.31 per cent to $87.92 per barrel.</p>.<p> In the domestic equity market, the 30-share BSE Sensex jumped 389.68 points or 0.58 per cent to 66,469.04 points while the broader NSE Nifty advanced 115 points or 0.58 per cent to 19,804.85 points.</p>.<p> Foreign Institutional Investors (FIIs) were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 1,005.49 crore, as per exchange data. </p>
<p> The rupee appreciated 3 paise to 83.22 against the US dollar on Wednesday, tracking cues from positive equity markets and a weaker American currency against major rivals overseas.</p>.<p> However, selling pressure from foreign equity investors weighed on the Indian currency, forex traders said.</p>.<p> At the interbank foreign exchange, the rupee opened at 83.20 and then touched 83.22 against the greenback, up 3 paise from its previous close.</p>.<p> On Tuesday, the rupee settled at 83.25 against the US dollar.</p>.IMF says 'weak tail' of banks could struggle in an economic downturn.<p> The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 105.77.</p>.<p> Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services, said the rupee traded within a narrow range even after more updates came in on the escalating conflict in Israel.</p>.<p> According to him, traders are expected to remain watchful of the US Federal Open Market Committee (FOMC) minutes that may indicate more interest rate hikes, adding strength to dollar.</p>.<p> 'We expect the USD-INR (spot) to trade sideways and quote in the range of 83.05 and 83.40,' Somaiya added.</p>.<p> Brent crude futures, the global oil benchmark, rose 0.31 per cent to $87.92 per barrel.</p>.<p> In the domestic equity market, the 30-share BSE Sensex jumped 389.68 points or 0.58 per cent to 66,469.04 points while the broader NSE Nifty advanced 115 points or 0.58 per cent to 19,804.85 points.</p>.<p> Foreign Institutional Investors (FIIs) were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 1,005.49 crore, as per exchange data. </p>