Most Asian currencies were weak and would get sentimental on Friday morning, Reliance Securities said in a research note that dollar sales could reduce depreciation bias.
The rupee opened 14 paise at 72.48 against the US dollar on Friday, supported by positive domestic equities.
In the interbank foreign exchange market, the local unit opened at 72.51 against the US dollar, then at a high of 72.48 against the greenback, a 14 paise increase from its previous close.
The rupee had closed at 72.62 against the US currency on Thursday.
On the domestic equity market front, the 30-share BSE benchmark Sensex was trading up 469.68 points at 48,909.80, and the broader NSE Nifty rose 151.95 points to 14,476.85 points.
Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, fell 0.07% to 92.78.
Most Asian currencies were weak and would get sentimental on Friday morning, Reliance Securities said in a research note that dollar sales could reduce depreciation bias.
Meanwhile, the International Monetary Fund has said that India’s economy is on a path of gradual recovery.
“India’s economy is on a path of gradual recovery, real GDP growth, returning to positive territory in the fourth quarter of 2020. And this is the first time since the onset of the epidemic and it is supported by the pick in gross, stable capital formation. , IMF spokesman Gerry Rice told reporters at a press conference in Washington on Thursday.
Brent crude futures, the global oil benchmark, rose 0.79% to $ 62.44 a barrel.
Foreign institutional investors were net sellers in the capital market on Thursday, as they had shares worth ₹ 3,383.60 crore, according to exchange data.
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