Rupee rises 9 paise to 84.41 against dollar

Mumbai: The rupee recovered from its all-time low level and appreciated 9 paise to close at 84.41 against the US dollar on Friday, supported by positive domestic equities.

Forex traders said the rupee is trading in a narrow range as the US dollar strengthened in the overseas market and Brent oil continued to move up as fighting between Ukraine and Russia continued to gain investors’ attention.

Moreover, foreign institutional investors have continued their equities selling mode and kept the dollar well bid.

At the interbank foreign exchange, the rupee opened at 84.48 and touched an intraday low of 84.50 against the greenback.

The unit ended the session at 84.41 against the dollar, registering a rise of 9 paise over its previous close.

On Thursday, the rupee depreciated 8 paise to settle at an all-time low of 84.50 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.50 per cent at 107.50.

Brent crude, the global oil benchmark, surged 0.31 per cent to $74.46 per barrel in futures trade.