Fresh foreign capital inflows supported the local unit.
Fresh foreign capital inflows supported the local unit.
The rupee on Friday closed 8 paise higher at 79.91 (provisional) against the US currency, tracking heavy buying in domestic equities and weakness in the greenback overseas.
Besides, fresh foreign capital inflows also supported the local unit, said forex dealers.
In the Interbank Foreign Exchange market, the local currency opened at ₹79.95 and saw an intra-day high of ₹79.82 and a low of ₹79.96 against the US Dollar in the day’s trade.
The local unit finally closed at Rs 79.91 per dollar, which is 8 paise higher than the previous close.
The rupee had closed at a record low of Rs 79.99 against the US dollar in the previous session.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.10% lower at 108.43.
Global oil benchmark Brent crude futures rose 0.67% to $99.76 a barrel.
On the domestic equity market front, the BSE Sensex closed 344.63 points or 0.65% higher at 53,760.78, while the broader NSE Nifty ended 110.55 points or 0.69% higher at 16,049.20.
Foreign institutional investors became net buyers in the capital markets on Thursday as they bought shares worth Rs 309 crore, according to exchange data.