Rupee gains 18 paise to close at 81.18 against U.S. dollar
The Hindu
“We expect the rupee to trade with a positive bias on a weak tone in the greenback.”
The rupee appreciated 18 paise to close at 81.18 (provisional) against the U.S. dollar on Friday on broad dollar weakness.
However, weak domestic equities and a surge in crude oil prices capped sharp gains for the local currency, forex traders said.
At the interbank foreign exchange market, the local unit opened strong at 81.24, and settled for the day at 81.18 (provisional), registering a rise of 18 paise over its previous close.
During the trading session, the local unit witnessed an intra-day high of 81.09 and a low of 81.28 against the American currency.
On Thursday, the rupee closed at 81.36 against the U.S. dollar.
The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.21% to 102.26.
Global oil benchmark Brent crude futures rose 0.48% to $86.57 per barrel.