<p>Mumbai, Dec 28 (PTI) The rupee rebounded after two straight days of fall to settle 17 paise higher at 83.17 (provisional) against the US dollar on Thursday, amid a weak American currency overseas and a rally in domestic equity markets.</p><p>The inflow of foreign funds and a downward trend in crude oil prices also supported the Indian currency, forex traders said.</p><p>At the interbank foreign exchange, the domestic currency opened at 83.33 and traded in a range of 83.16-83.34 against the greenback. The local unit finally settled at 83.17 (provisional), registering a gain of 17 paise over its previous close.</p><p>The rupee had lost 18 paise in the previous two sessions.</p><p>On Wednesday, the domestic currency settled 15 paise lower at 83.34 against the dollar, a day after closing at a loss of 3 paise.</p><p>Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said the rupee appreciated on the weak US dollar and a surge in domestic markets.</p>.India likely to remain fastest growing major economy in 2024: Assocham.<p>Choudhary said the rupee is likely to trade with a slight positive bias on fresh foreign inflows and an extended decline in the US dollar. Also, "traders may take cues from weekly unemployment claims data from the US. USD-INR spot price is expected to trade in a range of Rs 82.90 to Rs 83.50".</p><p>The US dollar declined on rising expectations of rate cuts by the US Federal Reserve.</p><p>The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.28 per cent at 100.37 on Thursday.</p><p>Meanwhile, global oil price benchmark Brent crude declined 0.64 per cent to $79.14 per barrel.</p><p>In the domestic equity market, the 30-share BSE Sensex jumped 371.95 points or 0.52 per cent to settle at an all-time high of 72,410.38 points. The broader NSE Nifty soared 123.95 points or 0.57 per cent to 21,778.70 points.</p><p>FIIs bought equities worth Rs 2,926.05 crore on Wednesday, according to exchange data. </p>
<p>Mumbai, Dec 28 (PTI) The rupee rebounded after two straight days of fall to settle 17 paise higher at 83.17 (provisional) against the US dollar on Thursday, amid a weak American currency overseas and a rally in domestic equity markets.</p><p>The inflow of foreign funds and a downward trend in crude oil prices also supported the Indian currency, forex traders said.</p><p>At the interbank foreign exchange, the domestic currency opened at 83.33 and traded in a range of 83.16-83.34 against the greenback. The local unit finally settled at 83.17 (provisional), registering a gain of 17 paise over its previous close.</p><p>The rupee had lost 18 paise in the previous two sessions.</p><p>On Wednesday, the domestic currency settled 15 paise lower at 83.34 against the dollar, a day after closing at a loss of 3 paise.</p><p>Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said the rupee appreciated on the weak US dollar and a surge in domestic markets.</p>.India likely to remain fastest growing major economy in 2024: Assocham.<p>Choudhary said the rupee is likely to trade with a slight positive bias on fresh foreign inflows and an extended decline in the US dollar. Also, "traders may take cues from weekly unemployment claims data from the US. USD-INR spot price is expected to trade in a range of Rs 82.90 to Rs 83.50".</p><p>The US dollar declined on rising expectations of rate cuts by the US Federal Reserve.</p><p>The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.28 per cent at 100.37 on Thursday.</p><p>Meanwhile, global oil price benchmark Brent crude declined 0.64 per cent to $79.14 per barrel.</p><p>In the domestic equity market, the 30-share BSE Sensex jumped 371.95 points or 0.52 per cent to settle at an all-time high of 72,410.38 points. The broader NSE Nifty soared 123.95 points or 0.57 per cent to 21,778.70 points.</p><p>FIIs bought equities worth Rs 2,926.05 crore on Wednesday, according to exchange data. </p>