Rupee appreciated by 12 paise from its previous close to 81.10 vs the US dollar on Friday amid weakness in value of the greenback against a basket of six peers. Rise in global crude oil prices, however, put pressure on the currency. The rupee settled at 81.22 vs the dollar on Thursday.
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 last trading marginally lower at 104.6, after hitting the lowest since August 11.
Crude oil prices rose on Friday, reversing losses from the previous session. Brent crude futures rose 0.2 percent to $87.1 per barrel at the last count. WTI futures too extended gains, rising 0.2 percent to $81.3 per barrel at the last count.
"The Indian rupee rose in November by more than 1.7 percent, marking its first monthly gain this year and ending its longest losing streak in nearly four decades as the USD entered into a strong bearish trend," highlighted Amit Pabari, Managing Director at CR Forex.
"Overall, weaker USD, and stronger domestic fundamentals could pave the way for rupee to appreciate towards 80.80 to 80.50 in the near term. On the flip side, 81.30-81.50 will act as a crucial resistance zone for the pair," Pabari added.
Indian equity benchmarks BSE Sensex and NSE Nifty50 started Friday's session lower. The headline indices ended in the green for fourth straight session on Thursday.
