capped sharp gains," said Anuj Choudhary, Research Analyst at Mirae
Asset Sharekhan.The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.05 per cent to 96.82.
Brent crude, the global oil benchmark, fell by 1.01 per cent to USD 68.41 per barrel in futures trade.
"We expect the rupee to strengthen on a weak US Dollar and rise in risk appetite in global markets. Overall, a weak tone in crude oil may also support the domestic currency. However, uncertainty over trade tariffs may cap sharp gains," Choudhary said.
Going ahead, traders may take cues from the Non-Farm payrolls report from the US. "USD/INR spot price is expected to trade in a range of 84.90 to 85.60," Choudhary said.
Meanwhile, in the domestic equity market, the Sensex declined 170.22 points or 0.20 per cent to 83,239.47, while Nifty fell 48.10 points or 0.19 per cent to 25,405.30.
Foreign institutional investors (FIIs) offloaded equities worth Rs 1,561.62 crore on a net basis on Wednesday, according to exchange data.
