The Indian rupee on the weekended Friday strengthened by 8 paise to end the day at 79.91 against the dollar, following strong domestic equity buying and a decline in the value of the dollar abroad. Further,  recent inflows of foreign cash helped the local currency.

The local currency opened at 79.95 at the interbank foreign exchange market and reached an intraday high and low of 79.82 and 79.96 respectively against the U.S. dollar during the day. The local currency eventually reached a settlement of Rs79.91 per USD, up 8 paise from its previous close.

The rupee's record low value versus the dollar in the previous session was 79.99. The dollar index, which measures the strength of the dollar relative to a basket of six different currencies, was down 0.10 percent at 108.43.

Meanwhile, the benchmark for world oil, Brent crude futures, rose by 0.67 percent to $99.76 a barrel.
On the  Indian share market front, the BSE Sensex closed 344.63 points or 0.65 percent higher at 53,760.78 on the domestic equities market, while the larger NSE Nifty gained 110.55 points or 0.69 percent to 16,049.20.

According to exchange data, foreign institutional investors became net purchasers on Thursday in the capital market by purchasing shares worth 309 crore.

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