In the previous four sessions, the rupee closed higher
Rising for the fifth day, the rupee on Friday appreciated sharply by 64 paise to a seven-week high of 80.76 against the dollar in the opening trade, tracking weakness in the US dollar against a basket of currencies. In the previous four sessions, the rupee closed higher.
The domestic currency had settled at 81.40 against the American currency on Thursday, up 7 paise over its previous close of 81.47.
The dollar index, which gauges the American currency’s strength against a basket of six currencies, was lower at 108.24, compared with 110.70 on Thursday.
Foreign Institutional Investors (FIIs) remained net buyers in capital markets as they purchased shares worth Rs 36.06 crore on Thursday, according to exchange data.
