Rupee Ends With Gains Against Dollar
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The Indian rupee strengthened against the U.S. dollar amid volatility.
The local currency opened 11 paise strong against the greenback at 81.48 on Friday. It soon gave up the gains and weakened 0.11% to 81.67 only to rebound and end at 8.
The rupee, however, ended at 81.52, appreciating 7 paise from Wednesday's close.
The Indian foreign exchange market was shut on Thursday for Republic Day.
"The U.S. dollar index recovered from its seven-month lows as better-than-expected economic numbers showed strength in the U.S. economy and pushed bond yields higher," ICICIdirect said in a daily-currency strategy note.
"The Q4 advance GDP numbers improved to 2.9% against market expectation of 2.6%. The weekly unemployment claims fell to a nine-month low of 186,000, showing a stronger labour market."