The rupee gained slightly against the US dollar, settling at 83.34 rupees per dollar. This was attributed to the weakness of the American currency in the global market and positive domestic equities. The rupee traded within a narrow range, with demand from oil marketing companies and foreign fund outflows affecting investor sentiment. The US dollar fell to a two-and-a-half month low due to expectations of no rate hike by the US Federal Reserve. However, foreign institutional investors were net sellers in the capital market.
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