Indian rupee rate: the rupee recovers 8 paise to close at 79.91 against the US dollar

The rupee recovered 8 paise to settle at 79.91 (tentative) against the US currency on Friday, following heavy buying of domestic equities and weak greenback overseas. In addition, new inflows of foreign capital also supported the local unit, traders said.

In the interbank forex market, the local currency opened at 79.95 and saw an intraday high of 79.82 and a low of 79.96 against the US Dollar in day trade.

The local unit finally settled at 79.91 on the dollar, up 8 paise from its previous close.

In the previous session, the Rupee stood at an all-time high of 79.99 against the US Dollar.

The dollar index, which gauges the strength of the greenback against a basket of six currencies, traded down 0.10% at 108.43.

Brent futures, the global oil benchmark, rose 0.67% to $99.76 a barrel.

On the domestic stock market front, the BSE Sensex ended up 344.63 points or 0.65% at 53,760.78, while the broader NSE Nifty was up 110.55 points or 0.69% at 16,049.20.

Foreign institutional investors became net buyers in the capital market on Thursday as they bought shares worth Rs 309 crore, according to exchange data.