INR vs USD: The Indian rupee strengthened 31 paise to 73.14 against the US dollar at the foreign exchange market on Friday.
After the crude prices fell in the global market to seven-month lows, the rupee was appreciated.
According to the traders, a higher opening in the domestic stock market supported the rupee.
Brent crude dropped 3.48% to trade at $72.65 per barrel which is a seven-month low.
On Thursday, the rupee closed at 73.45, gaining 50 paise, against the greenback.
Foreign institutional investors (FIIs) made new purchases worth Rs. 348.75 crore on Thursday, according to a provisional data.
Meanwhile, the domestic stock market started in green on Friday’s session.
The benchmark BSE Sensex started at 34,743.95 against its last close of 34,431.97 while the Nifty50 opened at 10,441.70 as compared to its previous close of 10,380.45.
At 11:47 am, the BSE Sensex traded at 35094.08, up 662.11 points or 1.92% and the Nifty index of the National Stock Exchange (NSE) at 10581.55, with a gain of 201.10 or 1.94%.