The rupee firmed up further by 4 paise to close at
61.69 against the American currency on sustained selling of dollars by
banks and exporters.
The rupee resumed higher at
61.70 at the Interbank Foreign Exchange (Forex) and firmed up further to
61.67 on initial selling of dollars by banks before ending a 61.69 per
dollar, a gain of 4 paise from its last close.
The domestic currency had gained 2 paise on Thursday.
The rupee traded in a narrow band on Friday, analysts said.
“Some
banks were seen selling dollars in the market which helped rupee to
post its fifth weekly gain in six weeks. But RBI is not expected to let
the rupee appreciate too much as it would hurt the exports. The trading
range for the Spot USD/INR pair is expected to be within 61.20 to
62.20,” Veracity Group CEO Pramit Brahmbhatt said.
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