The Indian rupee pared early losses to settle 6 paise higher at 74.40 against the American dollar (USD) on Friday weekend following gains in the domestic equities. At the interbank forex market, the rupee witnessed heavy volatility. The local unit opened weak at 74.55 a dollar and touched a low of 74.58 in morning trade. And recovered later and touched a high of 74.37 during the day. It finally closed at 74.40 against the American currency, registering a rise of 6 paise over its previous close. On Thursday, the rupee had settled at 74.46.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.10 percent to 92.91.
On the Indian equity market front, the BSE Sensex ended 138.59 points or 0.26 percent higher at 52,975.80, while the broader NSE Nifty was up 32 points or 0.2 percent to 15,856.05. Global oil benchmark Brent crude futures declined 0.05 percent to USD 73.75 per barrel.
Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs.247.59 crore, as per exchange data.
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