Rupee Versus Dollar: The Indian rupee declined by 10 paise to settle at 79.23 against the U.S. dollar on Friday, tracking the strength of the American currency (Dollar) in the overseas market.

The local currency at the interbank foreign exchange market started at 79.20 and finally closed at 79.23, down 10 paise from its previous close of 79.13.

The Reserve Bank of India on Wednesday announced a number of measures to increase foreign exchange inflows in an effort to stop the decline of the rupee, including raising the limits for corporate overseas borrowing and loosening restrictions on foreign investments in government bonds.

In order to ensure the smooth operation of the market, the central bank had also stated that it had been closely monitoring the liquidity conditions in the foreign exchange market and had intervened as needed in all of its segments to ease dollar tightness.

The dollar index, which rates the strength of the dollar against a group of six different currencies, increased by 0.39 percent to reach 107.54.  The benchmark for world oil, Brent crude futures, increased 0.05 percent to USD104.70 a barrel.

The BSE Sensex closed 303.38 points or 0.56 percent higher at 54,481.84 on the domestic equities market, while the larger NSE Nifty gained 87.70 points or 0.54 percent to 16,220.60. According to stock exchange data, foreign institutional investors sold shares worth 925.22 crore on Thursday, creating a net selling situation in the capital market.

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