Mumbai Dec 27 PTI Rising for the eighth straight session the rupee on Monday appreciated 3 paise to nearly four-week high of 75 against the US dollar amid a firm trend in domestic equities and rising appetite for riskier assetsHowever a strong US dollar overseas and firm crude oil prices restricted the rupees riseAt the interbank forex market the local unit opened at 7515 against the greenback and witnessed an intra-day high of 7495 and a low of 7516It finally settled at 75 showing a gain of 3 paise against the previous closeOver the last eight sessions the domestic currency has gained 132 paise against the greenbackTrading is likely to remain range-bound this week ahead of the year-end holidays forex traders saidAccording to Dilip Parmar- Research Analyst HDFC Securities rupee further moved north following strong risk appetite and lacklustre dollar demand ahead of year-endTrading volume remains thin as many European markets remain shut and foreign investors are in a holiday mood ahead of the new yearThe Indian Rupee ended the session marginally stronger against the US Dollar in a choppy trading session as foreign banks dollar sales on behalf of exporters offset earlier greenback purchases by state-run banks said Sriram Iyer Senior Research Analyst at Reliance SecuritiesPositive moves in Indian equity indices and stronger Asian currencies also aided sentimentsHowever FPIs continued to withdraw capital from Indian equities and bonds and fears of a rapid spread of Omicron variant of coronavirus kept the appreciating bias limitedRupee traded muted as the market was range-bound on the back of flat range in the dollar and crude prices due to holiday season Jateen Trivedi Senior Research Analyst at LKP Securities saidCrude prices can define the trend for the rupee as market sentiments were spooked due to nervousness on lockdowns due to the rise in cases in many parts of the EUOPEC updates in the first week of the new year can push prices higher in the rupee if Crude witnesses sell-off in case of weak demand outlook by OPEC Going ahead rupee can be seen in the range of 7475-7525 Trivedi saidOn the domestic equity market front the BSE Sensex ended 29593 points or 052 per cent higher at 5742024 while the broader NSE Nifty advanced 8250 points or 049 per cent to 1708625Meanwhile the dollar index which measures the greenbacks strength against the basket of six currencies rose 021 per cent to 9621Brent crude futures the global oil benchmark fell 001 per cent to USD 7613 per barrelForeign institutional investors remained net sellers in the capital market on Friday as they offloaded shares worth Rs 715 crore as per exchange data PTI DRR BAL BAL

Mumbai Dec 27 PTI Rising for the eighth straight session the rupee on Monday pared initial losses to settle 3 paise higher at 75 provisional against the US dollar amid a firm trend in domestic equitiesAt the interbank forex market the local unit opened at 7515 against the greenback and witnessed an intra-day high of 7495 and a low of 7516It finally settled at 75 showing a gain of 3 paise against the previous closeTrading is likely to remain range-bound this week ahead of the year-end holidays forex traders saidMoreover a strong US dollar and firm crude oil prices restricted the rupee uptrendOn the domestic equity market front the BSE Sensex ended 29593 points or 052 per cent higher at 5742024 while the broader NSE Nifty advanced 8250 points or 049 per cent to 1708625Meanwhile the dollar index which measures the greenbacks strength against the basket of six currencies rose 021 per cent to 9621Brent crude futures the global oil benchmark fell 001 per cent to USD 7613 per barrelForeign institutional investors remained net sellers in the capital market on Friday as they offloaded shares worth Rs 715 crore as per exchange data PTI DRR DRR BAL BAL