Rupee advances 12 paise against the dollar to close at 74.30.

The rupee gained 12 paise against the dollar on Friday, closing at 74.30  on the back of higher domestic equities. The local currency opened at 74.41 against the greenback on the interbank forex market, hit an intra-day high of 74.25, and concluded the day at 74.30, up 12 paise from its previous close of 74.42.

Positive rises in Indian equity indices and stronger Asian currencies supported emotions, according to forex traders, who added that Omicron concerns and firm crude oil prices limited the local unit's appreciation bias to some extent.

The dollar index, which measures the strength of the greenback against a basket of six currencies, dropped 0.21 percent to 96.11. The global oil benchmark, Brent crude futures, climbed 0.99 percent to USD 82.80 per barrel.

According to exchange data, foreign institutional investors were net sellers in the capital market on Thursday, offloading shares worth Rs1,926.77 crore.

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