The rupee closed at 93.89 against the US dollar on Friday, up 52 paise from Thursday’s close of 94.41, according to provisional data.
Foreign investors’ heavy buying of Indian shares supported the currency. They were net buyers of ₹14,974.68 crore on Thursday.
Anuj Choudhary, research analyst at Mirae Asset Sharekhan, expects the rupee to trade with a positive bias and sees USD/INR between 93.65 and 94.20 in the near term. Higher crude prices and tension in West Asia could cap the gains, he said.
