The rupee appreciated by 47 paise to close at 82.41 (provisional) against the U. S. dollar on Friday, as the greenback retreated from its elevated levels.
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At the interbank foreign exchange market, the local unit opened at 82.85 and finally settled at 82.41 against the American currency, registering a rise of 47 paise over its previous close amid a positive trend in domestic equities.
On Thursday, the rupee had closed 8 paise lower at 82.88.
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Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.34% to 112.54.
Global oil benchmark Brent crude futures rose 2.05% to $96.61 per barrel.
Euro and pound recover
"Euro and Pound too recovered on Friday from intraday lows as broader dollar retraced against its major crosses," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.
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On Thursday, pound fell sharply against the U. S. dollar after the Bank of England raised rates by 75 bps.
"We expect the USD-INR (Spot) to trade sideways and quote in the range of 82.50 and 83.30," Somaiya added.
On the domestic equity market front, the 30-share BSE Sensex advanced 113.95 points or 0.19% to end at 60,950.36, while the broader NSE Nifty gained 64.45 points or 0.36% to 18,117.15.
Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday as they purchased shares worth ₹677.62 crore, according to exchange data.