Mumbai: The rupee witnessed range-bound trade and settled for the day higher by 4 paise at 83.92 against the US dollar on Friday supported by weakening of the American currency in the overseas market and significant foreign fund inflows.
Forex traders said rupee trade was range-bound as the Reserve Bank of India (RBI) is maintaining a firm grip on the domestic currency.
At the interbank foreign exchange market, the local unit opened at 83.92 and witnessed an intraday high of 83.85 and a low of 83.98 against the American currency.
The domestic unit finally settled for the day at 83.92, higher by 4 paise over its previous close.
On Thursday, the local unit settled 3 paise higher at 83.96 against the US
dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was down 0.46 per cent to 100.90 points.