<p>Mumbai: The rupee appreciated 5 paise to 83.25 against the US dollar in morning trade on Thursday, as the crude oil price and the American currency retreated from their elevated levels.</p><p>However, a muted trend in domestic equities and sustained foreign fund inflows weighed on the investor sentiments.</p><p>At the interbank foreign exchange, the rupee opened at 83.25, higher by 5 paise over its previous close.</p><p>On Wednesday, the rupee closed at 83.30 against the American currency.</p><p>The rupee is anticipated to maintain its strength, thanks to the ongoing support from domestic factors, which remain robust due to a promising demand outlook driven by major festivals, CR Forex Advisors MD Amit Pabari said.</p><p>Despite ongoing outflows from FPIs, consistent inflows in the debt market are offsetting any prevailing negative sentiment, Pabari added.</p><p>Meanwhile, the dollar index declined by 0.06 per cent to 105.52.</p><p>Brent crude futures, the global oil benchmark, was trading 0.20 per cent higher at $79.70 per barrel on falling oil demand.</p><p>Forex traders said the rupee is likely to track its Asian peers and remain range bound.</p><p>In the domestic equity market, the BSE Sensex advanced 40.93 points or 0.06 per cent to 64,934.68. The NSE Nifty was up 26.20 points or 0.13 per cent to 19,417.30.</p><p>According to exchange data, Foreign Institutional Investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 84.55 crore.</p>
<p>Mumbai: The rupee appreciated 5 paise to 83.25 against the US dollar in morning trade on Thursday, as the crude oil price and the American currency retreated from their elevated levels.</p><p>However, a muted trend in domestic equities and sustained foreign fund inflows weighed on the investor sentiments.</p><p>At the interbank foreign exchange, the rupee opened at 83.25, higher by 5 paise over its previous close.</p><p>On Wednesday, the rupee closed at 83.30 against the American currency.</p><p>The rupee is anticipated to maintain its strength, thanks to the ongoing support from domestic factors, which remain robust due to a promising demand outlook driven by major festivals, CR Forex Advisors MD Amit Pabari said.</p><p>Despite ongoing outflows from FPIs, consistent inflows in the debt market are offsetting any prevailing negative sentiment, Pabari added.</p><p>Meanwhile, the dollar index declined by 0.06 per cent to 105.52.</p><p>Brent crude futures, the global oil benchmark, was trading 0.20 per cent higher at $79.70 per barrel on falling oil demand.</p><p>Forex traders said the rupee is likely to track its Asian peers and remain range bound.</p><p>In the domestic equity market, the BSE Sensex advanced 40.93 points or 0.06 per cent to 64,934.68. The NSE Nifty was up 26.20 points or 0.13 per cent to 19,417.30.</p><p>According to exchange data, Foreign Institutional Investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 84.55 crore.</p>