$ rebound snaps Re’s 4-day winning streak

Mumbai: Snapping its four-day winning run, the rupee depreciated by 8 paise to close at 82.16 against the US dollar on Friday following a rebound in the American currency against global peers and firm crude prices.

However, strong buying in domestic equity markets restricted losses in the local unit, forex traders said. At the interbank foreign exchange market, the rupee opened strong at 81.97 against the US dollar. Later, it erased all the gains to settle at 82.16, down by 8 paise over the previous close. During the session, the domestic unit witnessed an intra-day high of 81.92 and a low of 82.17. In the previous session on Thursday, the rupee had closed at 82.08 against the dollar. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, strengthened by 0.10 per cent to 99.56.