Indian Rupee Gains 37 Paise Against U.S. Dollar
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The Indian rupee appreciated against the U.S. dollar on Friday.
The local currency opened at 82.32 against the greenback, appreciating 40 paise against Friday close of 82.72.
Intraday, the Indian currency gained as much as 45 paise to 82.27.
At close, the rupee traded at 82.35, netting gains of 37 paise today.
"The U.S. dollar declined by 1.17% on Friday after data showed easing wage growth and contraction in the service sector. Disappointing economic data fuelled expectations of smaller rate hikes...Apart from this, two U.S. Fed officials signalled a smaller rate hike at the next policy meeting," ICICIDirect said in a daily currency note.