The Indian rupee ended weaker against the US dollar on Friday. The local currency closed 5 paise lower at Rs 86.71 against the greenback, according to Bloomberg. It had opened stronger at Rs 86.48, after closing at Rs 86.66 on Thursday.
"The RBI would be satisfied with the fall in REER in January-25 and may allow some more appreciation," said Anil Kumar Bhansali, head of treasury and executive director of Finrex Treasury Advisors LLP.
Brent oil prices extended gains on Friday, as they rose to $76.38 per barrel, as falling inventories of US gasoline and distillate raised expectations of a solid demand, while concerns over Russian disruptions lent support to the prices. US oil stockpiles, however, rose as seasonal maintenance led to lower processing.
Expectations for a potential peace deal between Russia and Ukraine which could ease sanctions faded, as Ukraine hardened it's stance due to negotiations without Kyiv, according to Bhansali.
The dollar index fell to a low of 106.44 as Euro rose to 1.05001, while Great British Pound rose to 1.2670 and yen was stable at 150.44 despite a rise in Japan inflation. Dollar was set for a third weekly drop as traders saw that start of second Trump innings has been mostly bluster on tariff front, he added.
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