Rupee adds 1 paisa against the dollar to close at 77.49

Indian Rupee Versus U S Dollar: On Friday, the rupee gave up its early gains and closed 1 paisa higher at 77.49 against the US dollar, as inflation fears and the strength of the US currency weighed on the local currency.

The rupee stabilised in a narrow range, according to forex dealers, as regional currency weakness and dismal economic data weighed on the domestic currency, while Reserve Bank of India (RBI) intervention limited the losses.

The rupee opened at 77.35 against the dollar on the interbank forex market and traded in a range of 77.26 to 77.49 during the day. The rupee eventually settled at 77.49, or 1 paisa higher than its previous level. The rupee fell 25 paise versus the dollar on Thursday, closing at a lifetime low of 77.50. The rupee has lost 57 paise in a week due to a stronger dollar index, risk-off attitude, and outflows of foreign funds.

The BSE Sensex slid 136.69 points, or 0.26 percent, to 52,793.62, while the broader NSE Nifty dropped 25.85 points, or 0.16 percent, to 15,782.15. The dollar index, which measures the strength of the US dollar against a basket of six currencies, dropped 0.05 percent to 104.79.

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