Rupee Gains 0.1% in Early Hours but Falls to Thursday's Closing Later

The Indian currency gained 9 paise during early trade at 59.64 per dollar, but regained its Thursday's closing price of around 59.73 a dollar at 10:30 am on Friday.

As of 10:32 am, rupee's price versus one dollar was recorded 59.7500. Till 11 am on Friday, it touched its Days High price of 59.7550 per dollar and INR was witnessed losing against the dollar during trading hours on Friday.

"I doubt too much of rally is possible for the rupee. RBI does not want too much of appreciation and global markets are at an elevated level so a correction in risk assets globally will affect India as well," Reuters quoted Samir Lodha, managing director at QuantAet Market Solutions.

"I see a low probability of INR moving to 58 or even 58.5, but 59 is possible. Though INR will bounce back to 61 or 62 levels whenever a global markets selloff happens," he added.

The rupee fell further  recording lower at 59.7600 a dollar and 59.7700 a dollar at 10:38 am and 10:45 am respectively. The price of other major currencies versus Dollar and Rupee was recorded as below during trading hours on Friday.

On Friday, Reserve Bank of India purchased 8 securities worth ₹20.25 billion at 8 percent rate during morning repo auction.

Besides, BSE Sensex opened higher at 25844.80 points with a surge of 21.05 points on Friday and at 9:15 am, NSE Nifty rose by 8 points at 7722.80 points.

On Thursday, BSE ended lower by 0.07 points at 25823.75 points, whereas, NSE also lost by 0.13 percent by settling down at 7714.80 points amid BSE network outage for three hours.