<p>Mumbai: The rupee appreciated 3 paise to close at 83.60 (provisional) against the US dollar on Wednesday, tracking a positive trend in domestic equities and a weak greenback against major currencies overseas.</p>.<p>However, net foreign fund outflows capped sharp gains in the local unit, forex traders said.</p>.<p>At the interbank foreign exchange, the local unit opened slightly strong at 83.59 against the American currency. During the session, it surged 12 paise to touch 83.51.</p>.Rupee rises 10 paise against US dollar in early trade.<p>However, the domestic currency gave up most of its gains to settle at 83.60 (provisional), 3 paise higher than its previous close.</p>.<p>On Tuesday, the rupee fell 9 paise to close at 83.63 against the American currency.</p>.<p>"This strength is likely supported by a weak dollar index and continued positive sentiment in Indian markets," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.</p>.<p>On the domestic equity markets front, the Sensex climbed 255.83 points to settle at an all-time high of 85,169.87, while Nifty rallied 63.75 points to hit a record of 26,004.15.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, rose marginally by 0.05 per cent to 100.52.</p>.<p>Brent crude, the international benchmark, was down 0.25 per cent at 74.98 in futures trade.</p>.<p>Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, offloading shares worth Rs 2,784.14 crore, according to exchange data.</p>.<p>Meanwhile, the Asian Development Bank (ADB) on Wednesday retained India's growth forecast for the current fiscal at 7 per cent and said that the economy is likely to accelerate in the coming quarters on improved farm output and higher Government spending.</p>
<p>Mumbai: The rupee appreciated 3 paise to close at 83.60 (provisional) against the US dollar on Wednesday, tracking a positive trend in domestic equities and a weak greenback against major currencies overseas.</p>.<p>However, net foreign fund outflows capped sharp gains in the local unit, forex traders said.</p>.<p>At the interbank foreign exchange, the local unit opened slightly strong at 83.59 against the American currency. During the session, it surged 12 paise to touch 83.51.</p>.Rupee rises 10 paise against US dollar in early trade.<p>However, the domestic currency gave up most of its gains to settle at 83.60 (provisional), 3 paise higher than its previous close.</p>.<p>On Tuesday, the rupee fell 9 paise to close at 83.63 against the American currency.</p>.<p>"This strength is likely supported by a weak dollar index and continued positive sentiment in Indian markets," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.</p>.<p>On the domestic equity markets front, the Sensex climbed 255.83 points to settle at an all-time high of 85,169.87, while Nifty rallied 63.75 points to hit a record of 26,004.15.</p>.<p>The dollar index, which gauges the greenback's strength against a basket of six currencies, rose marginally by 0.05 per cent to 100.52.</p>.<p>Brent crude, the international benchmark, was down 0.25 per cent at 74.98 in futures trade.</p>.<p>Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, offloading shares worth Rs 2,784.14 crore, according to exchange data.</p>.<p>Meanwhile, the Asian Development Bank (ADB) on Wednesday retained India's growth forecast for the current fiscal at 7 per cent and said that the economy is likely to accelerate in the coming quarters on improved farm output and higher Government spending.</p>