The value of the US dollar experienced a minor decrease of 13 paisas in the interbank market, with the exchange rate now standing at Rs278.

Mumbai: The rupee appreciated by 11 paise to settle at 83.75 (provisional) against the US dollar on Tuesday amid a weaker greenback against major currencies and a decline in crude oil prices. The decline in wholesale inflation to a four-month-low and a strong domestic market pushed up the domestic unit, forex traders said.

At the interbank foreign exchange market, the local unit opened slightly weak at 83.87 but gained some ground to turn positive at 83.84, registering a rise of 2 paise from its previous close.

The Indian rupee faced resistance on Tuesday following a rise driven by the U.S. dollar's struggles a day ahead of the Federal Reserve's highly anticipated interest rate decision. The rupee was at 83.

In the domestic equity market, the 30-share BSE Sensex fell 59.75 points, or 0.07%, to 82,929.03, while the Nifty slipped 4.85 points, or 0.02%, to 25,378.90.