Indian Rupee Closes With Marginal Gains

• Indian Rupee reversed its losses to rise 0.07% to 76.15 against the dollar, as stock benchmarks recovered after shedding nearly 1% in morning session.

• The currency fell 0.23% to 76.39 against the U.S. dollar during the session.

Source: Bloomberg

The Indian rupee ended 0.22% higher at 76.20 against the U.S. dollar on Friday on lower crude prices.

Crude price slid to around $110 a barrel from more than $120 partly on concerns that China’s virus resurgence will affect overall demand, and as the European Union decided against any fresh sanctions to cut imports from Russia.

Indian equity market, however, fell for the third consecutive session to log losses for the week. That snapped a two-week gaining streak.