Indian Rupee Strengthens Against The U.S. Dollar
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The Indian rupee strengthened against the U.S. dollar on Friday.
The local currency appreciated 0.15%, or 12 paise, to 81.24 against the greenback at open, compared to Thursday's close of 81.36.
Intraday, the rupee had strengthened as much as 0.34%, or 28 paise, to 81.08.
At close, the rupee traded at 81.12.
"The U.S. dollar index continued to trade near its seven-month low at 102 as a weaker set of economic numbers increased the fears of a recession in the U.S. economy. The data released on Thursday indicates the weakness in the housing sector," ICICI Direct said in its daily currency strategy note.