The Indian currency depreciated to 72.96 against the American greenback on increased selling of the latter by exporters and banks.
The rupee depreciated on increased selling of the American greenback by exporters and banks. Also, the dollar's weakness against some currencies overseas on easing trade war concerns and a higher opening of the domestic equity market supported the rupee.
On Wednesday, the rupee had snapped a two-day fall and closed higher by 72.37 against US Dollar.
On the international front, oil prices were little changed on Friday after falling in the previous session as US President Donald Trump urged OPEC to lower crude prices at its meeting in Algiers this weekend.
The rupee surged to a one-week high of 72.96 against the US dollar in morning trade on Friday. Currently, the Indian currency is trading at 71.84.
The rupee depreciated on increased selling of the American greenback by exporters and banks. Also, the dollar's weakness against some currencies overseas on easing trade war concerns and a higher opening of the domestic equity market supported the rupee.
On Wednesday, the rupee had snapped a two-day fall and closed higher by 72.37 against US Dollar.
On the international front, oil prices were little changed on Friday after falling in the previous session as US President Donald Trump urged OPEC to lower crude prices at its meeting in Algiers this weekend.
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