<p>New Delhi: <a href="https://www.deccanherald.com/tags/rupee">Rupee</a> appreciated 7 paise to 84.22 against the <a href="https://www.deccanherald.com/tags/us-dollar">US dollar</a> in morning trade on Tuesday, on a sharp rebound in domestic equities amid improved investor risk appetite.</p><p>Forex traders said the MSCI equity index rebalancing significantly boosted sentiment for Indian equity markets as foreign institutional investors broke a 40-session streak of net selling by purchasing Rs 9,947 crores on Monday, lending robust support to the rupee.</p><p>Moreover, the win by the incumbent government in Maharashtra, further fueled investor confidence in economic stability, sparking a rally in equity markets.</p><p>At the interbank foreign exchange, the rupee opened at 84.27 and moved in a tight range and touched an early high of 84.22 against the greenback, registering a gain of 7 paise over its previous close.</p><p>On Monday, the rupee appreciated 12 paise to close at 84.29 against US dollar.</p>.Japan authorities raid Amazon Japan for possible anti-competitive practices: Report.<p>"While Donald Trump's aggressive trade policies loom large, the rupee's outlook remains cautiously optimistic. The Reserve Bank of India's projection of a GDP growth rebound to 7.6 per cent in Q3 has infused fresh confidence in India's economic trajectory. Additionally, a surge in capital inflows is likely to provide robust support," CR Forex Advisors MD Amit Pabari said.</p><p>Pabari further said that the RBI's vigilant stance will be critical in managing volatility, with interventions likely at key levels to maintain stability.</p><p>"Given the factors, the USDINR pair appears to face resistance around the 84.50 level, with expectations of trading within a range of 83.80 to 84.50, leaning toward a downside bias," he said.</p><p>On the global front, US Treasury Secretary nominee Scott Bessent's fiscal deficit reduction agenda capped US Treasury yields, Pabari said. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.28 per cent at 107.11.</p><p>Brent crude, the global oil benchmark, rose by 0.33 per cent to USD 73.25 per barrel in futures trade.</p><p>In the domestic equity market, the 30-share equity benchmark Sensex jumped 167.76 points or 0.21 per cent to 80,277.61 points in early trade, while Nifty jumped 55.80 points or 0.23 per cent to 24,277.70 points.</p><p>Foreign Institutional Investors (FIIs) turned net buyers in the capital markets on Monday, purchasing shares worth Rs 9,947.55 crore, according to exchange data.</p>
<p>New Delhi: <a href="https://www.deccanherald.com/tags/rupee">Rupee</a> appreciated 7 paise to 84.22 against the <a href="https://www.deccanherald.com/tags/us-dollar">US dollar</a> in morning trade on Tuesday, on a sharp rebound in domestic equities amid improved investor risk appetite.</p><p>Forex traders said the MSCI equity index rebalancing significantly boosted sentiment for Indian equity markets as foreign institutional investors broke a 40-session streak of net selling by purchasing Rs 9,947 crores on Monday, lending robust support to the rupee.</p><p>Moreover, the win by the incumbent government in Maharashtra, further fueled investor confidence in economic stability, sparking a rally in equity markets.</p><p>At the interbank foreign exchange, the rupee opened at 84.27 and moved in a tight range and touched an early high of 84.22 against the greenback, registering a gain of 7 paise over its previous close.</p><p>On Monday, the rupee appreciated 12 paise to close at 84.29 against US dollar.</p>.Japan authorities raid Amazon Japan for possible anti-competitive practices: Report.<p>"While Donald Trump's aggressive trade policies loom large, the rupee's outlook remains cautiously optimistic. The Reserve Bank of India's projection of a GDP growth rebound to 7.6 per cent in Q3 has infused fresh confidence in India's economic trajectory. Additionally, a surge in capital inflows is likely to provide robust support," CR Forex Advisors MD Amit Pabari said.</p><p>Pabari further said that the RBI's vigilant stance will be critical in managing volatility, with interventions likely at key levels to maintain stability.</p><p>"Given the factors, the USDINR pair appears to face resistance around the 84.50 level, with expectations of trading within a range of 83.80 to 84.50, leaning toward a downside bias," he said.</p><p>On the global front, US Treasury Secretary nominee Scott Bessent's fiscal deficit reduction agenda capped US Treasury yields, Pabari said. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.28 per cent at 107.11.</p><p>Brent crude, the global oil benchmark, rose by 0.33 per cent to USD 73.25 per barrel in futures trade.</p><p>In the domestic equity market, the 30-share equity benchmark Sensex jumped 167.76 points or 0.21 per cent to 80,277.61 points in early trade, while Nifty jumped 55.80 points or 0.23 per cent to 24,277.70 points.</p><p>Foreign Institutional Investors (FIIs) turned net buyers in the capital markets on Monday, purchasing shares worth Rs 9,947.55 crore, according to exchange data.</p>