Mumbai: The rupee appreciated 7 paise to 88.72 against the US dollar on Friday, on strength in the domestic markets and broad weakness in crude oil prices. Forex traders said the rupee gained on strong domestic markets and overnight decline in commodity prices.
At the interbank foreign exchange, the rupee opened at 88.80 and traded in the range of 88.50-88.80 before settling at 88.72, higher by 7 paise from its previous close.
On Thursday, the rupee closed at 88.79 against the greenback. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.21 per cent lower at 99.32, as safe-haven demand for dollars continues keeping the dollar well bid.