<p>Mumbai: The rupee consolidated in a narrow range and settled 6 paise lower at 83.28 (provisional) against the US dollar on Friday, as sustained foreign fund outflows weighed on investor sentiments.</p><p>Forex traders said a positive trend in domestic equities supported the local unit at lower levels and restricted the downside.</p><p>At the interbank foreign exchange market, the local unit opened at 83.22 and touched a low level of 83.29 against the greenback.</p><p>It finally settled at 83.28 (provisional) against the dollar, registering a loss of 6 paise from its previous close.</p><p>On Thursday, the rupee had settled at 83.22 against the US dollar.</p><p>'The domestic currency, Asia's second best performer this year, continues to be range-bound as risk appetite remains strong on the US Federal Reserve standing pat on interest rates,' said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.</p><p>Singh further said that the Indian Central Bank continues to defend the domestic currency from weakening beyond 83.29.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 105.96.</p><p>Global oil price benchmark Brent crude declined 0.15 per cent to USD 86.72 per barrel.</p><p>On the domestic equity market front, Sensex climbed 282.88 points or 0.44 per cent to settle at 64,363.78. The Nifty rose 97.35 points or 0.51 per cent to 19,230.60.</p><p>Foreign Institutional Investors sold equities worth Rs 1,261.19 crore on Thursday, according to exchange data.</p><p>On the domestic macroeconomic front, the services sector growth in India fell to a seven-month low in October on softer increase in output and new business, amid competitive conditions and price pressures.</p><p>The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to 58.4 in October, from a 13-year high of 61 in September, signalling the slowest rate of expansion since March. </p>
<p>Mumbai: The rupee consolidated in a narrow range and settled 6 paise lower at 83.28 (provisional) against the US dollar on Friday, as sustained foreign fund outflows weighed on investor sentiments.</p><p>Forex traders said a positive trend in domestic equities supported the local unit at lower levels and restricted the downside.</p><p>At the interbank foreign exchange market, the local unit opened at 83.22 and touched a low level of 83.29 against the greenback.</p><p>It finally settled at 83.28 (provisional) against the dollar, registering a loss of 6 paise from its previous close.</p><p>On Thursday, the rupee had settled at 83.22 against the US dollar.</p><p>'The domestic currency, Asia's second best performer this year, continues to be range-bound as risk appetite remains strong on the US Federal Reserve standing pat on interest rates,' said Praveen Singh – Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas.</p><p>Singh further said that the Indian Central Bank continues to defend the domestic currency from weakening beyond 83.29.</p><p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 105.96.</p><p>Global oil price benchmark Brent crude declined 0.15 per cent to USD 86.72 per barrel.</p><p>On the domestic equity market front, Sensex climbed 282.88 points or 0.44 per cent to settle at 64,363.78. The Nifty rose 97.35 points or 0.51 per cent to 19,230.60.</p><p>Foreign Institutional Investors sold equities worth Rs 1,261.19 crore on Thursday, according to exchange data.</p><p>On the domestic macroeconomic front, the services sector growth in India fell to a seven-month low in October on softer increase in output and new business, amid competitive conditions and price pressures.</p><p>The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to 58.4 in October, from a 13-year high of 61 in September, signalling the slowest rate of expansion since March. </p>