<p>The rupee appreciated by 17 paise to close at 81.11 (provisional) against the US dollar on Tuesday, on positive domestic macroeconomic data and weak American currency.</p>.<p>Forex traders said a firm trend in domestic equities, sustained foreign fund inflows and easing crude oil prices also supported the local unit.</p>.<p>At the interbank foreign exchange market, the local unit opened at 81.18 and touched an intra-day high of 81.04 and a low of 81.45 against the greenback.</p>.<p>The local unit finally settled at 81.11, registering a rise of 17 paise over its previous close.</p>.<p>On Monday, the rupee depreciated by 50 paise to close at 81.28 against the US currency.</p>.<p>"Rupee opened on a flat note and started to appreciate in the latter half. Momentum in the dollar turned negative after one of the Fed members hinted towards a slower rate hike process," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.</p>.<p><strong>DH Poll | <a href="https://www.deccanherald.com/business/business-news/dh-poll-rupee-likely-to-fall-further-by-march-2023-1162370.html" target="_blank">Rupee likely to fall further by March 2023</a></strong></p>.<p>On the domestic macroeconomic front, indicating easing of the price situation, retail inflation moderated to 6.7 per cent in October while the wholesale price index-based inflation fell to a 19-month low mainly on account of subdued rates of food items.</p>.<p>"Today focus will be on the German economic sentiment and weaker-than-expected data keep the crosses weighed down," Somaiya said, adding, "we expect the $INR (spot) to trade sideways and quote in the range of 80.80 and 81.60."</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.38 per cent to 106.25.</p>.<p>Global oil benchmark Brent crude futures fell 1.47 per cent to $ 91.77 per barrel.</p>.<p>On the domestic equity market front, the 30-share BSE Sensex advanced 248.84 points or 0.40 per cent to end at 61,872.99, while the broader NSE Nifty gained 74.25 points or 0.41 per cent to 18,403.40.</p>.<p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday as they purchased shares worth Rs 1,089.41 crore, according to exchange data.</p>
<p>The rupee appreciated by 17 paise to close at 81.11 (provisional) against the US dollar on Tuesday, on positive domestic macroeconomic data and weak American currency.</p>.<p>Forex traders said a firm trend in domestic equities, sustained foreign fund inflows and easing crude oil prices also supported the local unit.</p>.<p>At the interbank foreign exchange market, the local unit opened at 81.18 and touched an intra-day high of 81.04 and a low of 81.45 against the greenback.</p>.<p>The local unit finally settled at 81.11, registering a rise of 17 paise over its previous close.</p>.<p>On Monday, the rupee depreciated by 50 paise to close at 81.28 against the US currency.</p>.<p>"Rupee opened on a flat note and started to appreciate in the latter half. Momentum in the dollar turned negative after one of the Fed members hinted towards a slower rate hike process," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.</p>.<p><strong>DH Poll | <a href="https://www.deccanherald.com/business/business-news/dh-poll-rupee-likely-to-fall-further-by-march-2023-1162370.html" target="_blank">Rupee likely to fall further by March 2023</a></strong></p>.<p>On the domestic macroeconomic front, indicating easing of the price situation, retail inflation moderated to 6.7 per cent in October while the wholesale price index-based inflation fell to a 19-month low mainly on account of subdued rates of food items.</p>.<p>"Today focus will be on the German economic sentiment and weaker-than-expected data keep the crosses weighed down," Somaiya said, adding, "we expect the $INR (spot) to trade sideways and quote in the range of 80.80 and 81.60."</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.38 per cent to 106.25.</p>.<p>Global oil benchmark Brent crude futures fell 1.47 per cent to $ 91.77 per barrel.</p>.<p>On the domestic equity market front, the 30-share BSE Sensex advanced 248.84 points or 0.40 per cent to end at 61,872.99, while the broader NSE Nifty gained 74.25 points or 0.41 per cent to 18,403.40.</p>.<p>Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday as they purchased shares worth Rs 1,089.41 crore, according to exchange data.</p>