New Delhi: The Indian rupee exhibited resilience against the US dollar on Tuesday, marking a modest appreciation of 3 paise to close at 83.33 (provisional).

This gain was attributed to "upbeat sentiments in the domestic markets" and a subdued performance of the American currency, according to media.

At the interbank foreign exchange market, the rupee commenced trading at 83.37 against the dollar, reaching an intraday high of 83.28 and a low of 83.39. Despite facing fluctuations throughout the day, the rupee concluded the session at 83.33 against the dollar, representing a 3 paise increment from its previous close.

Anuj Choudhary, a Research Analyst noted that the rupee's ascent was underpinned by a weakened US dollar and positive domestic market conditions.

However, gains were tempered by a recovery in crude oil prices and foreign institutional investor (FII) outflows. The dollar index, which measures the greenback's performance against a basket of six major currencies, experienced a marginal decline of 0.01 percent to 106.06, influenced by reduced tensions between Israel and Iran.

Looking ahead, Choudhary expressed optimism regarding the rupee's trajectory, anticipating a slight positive bias driven by improved global risk sentiments and easing geopolitical tensions in the Middle East.

Additionally, the rupee found support from the strengthening euro and pound against the dollar, coupled with mixed to positive Purchasing Managers' Index (PMI) data from Europe.

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