The Indian rupee concluded 10 paise lower against the US dollar on Thursday, closing at 83.27. This decline was attributed to dollar demand from local oil companies, and traders were awaiting GDP and labor market data from the United States. The local currency's closing value represented a 0.13% decrease from its previous close at 83.17. The dollar index, measuring the greenback's strength against a basket of six currencies, was trading 0.05% lower at 102.36. Abhilash Koikkara, head of forex and rates at Nuvama Professional Clients Group, noted that momentary dips have become characteristic of the dollar-rupee pair. Investors are now anticipating key US economic data scheduled for release later on Thursday. Global oil prices, with Brent crude as the benchmark, rose by 0.18% to $79.84 per barrel. Meanwhile, the domestic equity market witnessed gains on Thursday, driven by broad-based buying, as investors maintained optimism about India's growth prospects. The Sensex closed 358.79 points, or 0.51%, higher at 70,865.10, while the Nifty 50 gained 104.90 points, or 0.50%, settling at 21,255.05. On the previous day, Foreign Institutional Investors (FIIs) were net sellers of Indian shares worth ₹1,322.08 crore, while Domestic Institutional Investors (DIIs) net purchased shares amounting to ₹4,754.34 crore, according to provisional data available on the exchanges.