Rs extends gains for 2nd day, rises 18P to 71.78 vs $

Mumbai: The rupee appreciated by 18 paise to close at 71.78 against the American currency on Friday, extending gains for a second day on the back of easing crude oil prices and positive trends in equity markets.

At the interbank foreign exchange market, the rupee opened at 71.80 against the US dollar. It fluctuated between a high of 71.68 and a low of 71.87 in day trade. On Thursday, the rupee had closed at 71.96 against the American currency.

On a weekly basis, the local unit lost 50 paise. Brent crude, the global oil benchmark, eased 0.66 per cent to $61.87 per barrel in futures trade.