Rupee rises 7 paise to close at 83.23 against US dollar

The rupee appreciated against the US dollar due to a bullish trend in domestic equities and weakness of the American currency in the overseas market. The gains were limited by rising crude oil prices. The rupee gained for the second day following mixed signals from the Federal Open Market Committee (FOMC) meeting minutes and better-than-expected service PMI number and Eurozone data. However, the gains were trimmed due to higher crude oil prices. Meanwhile, the Sensex surged and foreign institutional investors were net sellers in the capital markets. https://ift.tt/vD0QIPr