MUMBAI: The rupee appreciated eight paise to close at 88.21 (provisional) against the US dollar on Wednesday, on strong domestic markets and optimism over the trade deal between India and the US.

Forex traders said upbeat market sentiment, driven by trade deal optimism and easing crude oil prices, enthused investor sentiment, even as importer demand for dollars capped sharp gains.

Moreover, investors remain cautious ahead of the US FOMC meeting decision.

At the interbank foreign exchange market, the rupee opened at 88.21, and later traded in a range of 88.15 to 88.35 during the day. The local unit finally settled at 88.21 (provisional) against the greenback, registering a gain of 8 paise from its previous close.

On Tuesday, the rupee depreciated by 10 paise to close at 88.29 against t

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