<p>The rupee appreciated by 10 paise to close at 82.28 (provisional) against the US dollar on Friday, tracking the weakening of the American currency in the overseas market.</p>.<p>Forex traders said muted domestic equities and foreign fund outflows weighed on investor sentiments and restricted the gains.</p>.<p>At the interbank foreign exchange market, the local unit opened at 82.30 and touched an intra-day high of 82.08 and a low of 82.33 against the greenback.</p>.<p>It finally settled at 82.28, registering a rise of 10 paise over its previous close of 82.38.</p>.<p>Forex traders said investors awaited the outcome of a slew of central bank meetings next week for additional clues on the pace of rate hikes.</p>.<p>"Focus will now be shifting to the FOMC policy statement. The central bank could raise rates by 50 bps and maintain a less hawkish stance," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.</p>.<p>"We expect the USD-INR (Spot) to trade sideways and quote in the range of 82.20 and 82.80," Somaiya added.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.06 per cent to 104.71.</p>.<p>Global oil benchmark Brent crude futures rose 1.22 per cent to $77.08 per barrel.</p>.<p>On the domestic equity market front, the 30-share BSE Sensex declined 389.01 points or 0.62 per cent to end at 62,181.67, while the broader NSE Nifty fell 112.75 points or 0.61 per cent to 18,496.60.</p>.<p>Foreign Institutional Investors (FIIs) remained net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,131.67 crore, according to exchange data.</p>
<p>The rupee appreciated by 10 paise to close at 82.28 (provisional) against the US dollar on Friday, tracking the weakening of the American currency in the overseas market.</p>.<p>Forex traders said muted domestic equities and foreign fund outflows weighed on investor sentiments and restricted the gains.</p>.<p>At the interbank foreign exchange market, the local unit opened at 82.30 and touched an intra-day high of 82.08 and a low of 82.33 against the greenback.</p>.<p>It finally settled at 82.28, registering a rise of 10 paise over its previous close of 82.38.</p>.<p>Forex traders said investors awaited the outcome of a slew of central bank meetings next week for additional clues on the pace of rate hikes.</p>.<p>"Focus will now be shifting to the FOMC policy statement. The central bank could raise rates by 50 bps and maintain a less hawkish stance," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.</p>.<p>"We expect the USD-INR (Spot) to trade sideways and quote in the range of 82.20 and 82.80," Somaiya added.</p>.<p>Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.06 per cent to 104.71.</p>.<p>Global oil benchmark Brent crude futures rose 1.22 per cent to $77.08 per barrel.</p>.<p>On the domestic equity market front, the 30-share BSE Sensex declined 389.01 points or 0.62 per cent to end at 62,181.67, while the broader NSE Nifty fell 112.75 points or 0.61 per cent to 18,496.60.</p>.<p>Foreign Institutional Investors (FIIs) remained net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,131.67 crore, according to exchange data.</p>