Summary:
Mumbai, Jan 21 (PTI) The rupee advanced by 8 paise to close at 74.43 (provisional) against the US dollar on Friday on the back of easing crude oil prices and dollar selling by banks and exporters.
However, the rupee"s further recovery was restricted by continuous foreign fund outflows and sell-offs in domestic equities, analysts said.
At the interbank foreign exchange market, the rupee opened at 74.50 a dollar and during the day, it witnessed an intra-day high of 74.40 and a low of 74.55 against the American currency.
The domestic unit finally settled at 74.43 (provisional) against the American currency, up 8 paise over its last close of 74.51.
Meanwhile, the US dollar index, which measures the greenback"s strength against the basket of six currencies, fell 0.13 per cent to 95.61.
"The Indian rupee appreciated on back of fall in crude oil prices, corporate dollar inflows along with exporters dollar selling and debt raising helped the rupee in trimming weekly losses," said Dilip Parmar, Research Analyst, HDFC Securities.