Rupee falls 4 paise to close at ₹79.66 against U.S. dollar

The rupee depreciated 4 paise to close at ₹79.66 (provisional) against the U.S. dollar on Friday, tracking a strong American currency in the overseas market and rising crude oil prices.

At the interbank foreign exchange market, the local currency opened at ₹79.67 and saw an intra-day high of ₹79.63 and a low of ₹79.72 against the American currency.

It finally ended at ₹79.66, down 4 paise over its previous close.

On Thursday, the rupee depreciated by 37 paise to close at ₹79.62 against the U.S. dollar.

Traders said the rupee traded in a narrow range as investors awaited key domestic macroeconomic data points like index of industrial production (IIP) and consumer price index (CPI) for further cues.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.26% to 105.36.

Brent crude futures, the global oil benchmark, advanced 0.55% to $100.15 per barrel.

On the domestic equity market front, the BSE Sensex ended 130.18 points or 0.22% higher at 59,462.78 points, while the broader NSE Nifty advanced 39.15 points or 0.22% to 17,698.15 points.

Foreign institutional investors remained net buyers in the capital market on Thursday as they purchased shares worth ₹2,298.08 crore, as per exchange data.