Bearish dollar overseas also supported the rupee
The rupee on Friday recouped against the US currency by 13 paise to close at 67.08 per dollar on fresh dollar selling by banks and exporters amid recovery in stock markets.
The rupee resumed tad higher at 67.2050 against Thursday's closing level of 67.21 at the Interbank Foreign Exchange (Forex) market. It hovered in wide range of 67.03 per dollar and 67.2075 before finishing at 67.08 per dollar, showing a gain of 13 paise or 0.19 per cent.
The rupee had dropped by six paise or 0.09 per cent on Thursday.
"Bearish dollar overseas also supporting the rupee," a dealers said.
Meanwhile, the dollar index was down by 0.26 per cent against the basket of global currencies in late trade.
The RBI fixed the reference rate for the dollar at 67.1682 and euro at 75.4568.
In cross-currency trades, the rupee fell against the pound sterling to close at 95.86 from 94.97 yesterday. It weakened against the euro to close at 75.53 from 75.21.
However, the domestic currency inched up against the Japanese yen to 64.38 per 100 yens from 64.39.
In forward market, premium for dollar eased further on sustained receivings from exporters.
The benchmark 6-month premium for November moved down to 181-193 paise from 192.5-194.5 previously and far forward May 2017 contract eased to 386-388 from 387-388.5 paise.
Meanwhile, the benchmark BSE Sensex recovered by 100.45 points or 0.38 per cent to 26,625.91.
Oil prices on Friday rebounded $47.74 per barrel after a six-session sell-off with the dollar softening against most other currencies on easing concerns over Britain's EU future.
Exchange data showed FPIs invested Rs 32 crore in net basis in equities, while a net Rs 229 crore in debt markets.
Photograph: Reuters
