Rupee Strengths by 18 Paise; Gold and Silver Prices also Rise

MUMBAI: The Rupee strengthened on Friday, but hesitated to firm past the key 81.10 level, trading broadly in line with its Asian peers, as the U.S. dollar remained muted. The partially convertible rupee finished at 81.12 per dollar, compared to its previous close of 81.36. For the week, it gained 0.25%

At the interbank foreign exchange market, the local unit opened strong at 81.24, and settled for the day at 81.18 (provisional), registering a rise of 18 paise over its previous close.

Earlier in the session the currency gained by 10 paise to 81.26 vs dollar amid steadiness in the value of greenback against a basket of six peers. Crude oil benchmarks traded higher on Friday. Brent crude futures were trading 0.4 percent higher at $86.5 per barrel at the last count.

The dollar index — which measures the American currency against the yen, the pound, the Canadian dollar, the Swedish krona, the Swiss franc and the euro — was trading nearly flat at 101.9.

Meanwhile, Gold prices jumped by Rs 433 to Rs 57,025 per 10 grams. Silver also zoomed Rs 990 to Rs 69,208 per kg.

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