<p>Mumbai: The rupee appreciated 25 paise to close at 85.49 (provisional) against the US dollar on Friday, logging the best monthly gain in over six years, supported by a resurgence of foreign fund inflows.</p>.<p>In March this year the local unit appreciated 2.17 per cent, the maximum since November 2018 when the local unit had registered a gain of over 5 per cent.</p>.<p>In the current financial year the rupee has depreciated more than 2 per cent. On April 2, 2024 it was quoted at 83.42 against the US dollar.</p>.<p>Forex dealers said the domestic unit has witnessed significant appreciation supported by robust foreign fund inflows into the capital market.</p>.NSE defers switching to Monday expiry after Sebi's consultation paper.<p>Foreign investors have infused over Rs 32,000 crore in the past six consecutive trading sessions.</p>.<p>However, sharp upside for the local unit was restricted by weak domestic markets and rising US dollar. Moreover, investors also grappled with the potential economic impact of growing global trade concerns.</p>.<p>At the interbank foreign exchange, the rupee opened at 85.64 then touched an intraday high of 85.40 and a low of 85.70 against the greenback.</p>.<p>The unit ended the session at 85.49 (provisional) against the dollar, registering a gain of 25 paise from its previous closing level.</p>.<p>On Thursday, the rupee had weakened by 5 paise to close at 85.74 against the US dollar.</p>.<p>"We expect the rupee to trade with a positive bias on inflows by foreign investors. However, month-end dollar demand from importers and oil marketing companies (OMCs) and elevated crude oil prices may cap sharp upside," said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan.</p>.<p>Choudhary further noted that "traders may take cues from core PCE price index data from the US. USD-INR spot price is expected to trade in a range of 85.15 to 86.70." The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.09 per cent higher at 104.43.</p>.<p>Brent crude, the global oil benchmark, rose 0.16 per cent to $74.15 per barrel in futures trade.</p>.<p>In the domestic equity market, the 30-share BSE Sensex fell 191.51 points, or 0.25 per cent, to settle at 77,414.92, while the Nifty declined 72.60 points, or 0.31 per cent, to close at 23,519.35 points.</p>.<p>Foreign institutional investors (FIIs) purchased equities worth Rs 11,111.25 crore on a net basis on Thursday, according to exchange data.</p>
<p>Mumbai: The rupee appreciated 25 paise to close at 85.49 (provisional) against the US dollar on Friday, logging the best monthly gain in over six years, supported by a resurgence of foreign fund inflows.</p>.<p>In March this year the local unit appreciated 2.17 per cent, the maximum since November 2018 when the local unit had registered a gain of over 5 per cent.</p>.<p>In the current financial year the rupee has depreciated more than 2 per cent. On April 2, 2024 it was quoted at 83.42 against the US dollar.</p>.<p>Forex dealers said the domestic unit has witnessed significant appreciation supported by robust foreign fund inflows into the capital market.</p>.NSE defers switching to Monday expiry after Sebi's consultation paper.<p>Foreign investors have infused over Rs 32,000 crore in the past six consecutive trading sessions.</p>.<p>However, sharp upside for the local unit was restricted by weak domestic markets and rising US dollar. Moreover, investors also grappled with the potential economic impact of growing global trade concerns.</p>.<p>At the interbank foreign exchange, the rupee opened at 85.64 then touched an intraday high of 85.40 and a low of 85.70 against the greenback.</p>.<p>The unit ended the session at 85.49 (provisional) against the dollar, registering a gain of 25 paise from its previous closing level.</p>.<p>On Thursday, the rupee had weakened by 5 paise to close at 85.74 against the US dollar.</p>.<p>"We expect the rupee to trade with a positive bias on inflows by foreign investors. However, month-end dollar demand from importers and oil marketing companies (OMCs) and elevated crude oil prices may cap sharp upside," said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan.</p>.<p>Choudhary further noted that "traders may take cues from core PCE price index data from the US. USD-INR spot price is expected to trade in a range of 85.15 to 86.70." The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.09 per cent higher at 104.43.</p>.<p>Brent crude, the global oil benchmark, rose 0.16 per cent to $74.15 per barrel in futures trade.</p>.<p>In the domestic equity market, the 30-share BSE Sensex fell 191.51 points, or 0.25 per cent, to settle at 77,414.92, while the Nifty declined 72.60 points, or 0.31 per cent, to close at 23,519.35 points.</p>.<p>Foreign institutional investors (FIIs) purchased equities worth Rs 11,111.25 crore on a net basis on Thursday, according to exchange data.</p>