The Indian rupee strengthened against the U.S. dollar on Friday amid decline in U.S. Treasury yields and after India's gross domestic product grew 7.8% in April-June.
The local currency strengthened seven paise to close at Rs 82.72 against the dollar. It opened at Rs 82.58 on Friday.
The rupee had closed at Rs 82.79 on Thursday, according to Bloomberg data.
Reliance Securities expected the rupee to open in the range of 82.6000 to 82.6200 against the dollar, as compared with 82.7850 in the previous session. The range for the session was 82.50 to 82.80, the brokerage said.
"The rupee's trading range is anticipated to be between 82.50 and 82.90," Jateen Trivedi, VP of research at LKP Securities said. "Market participants will closely monitor the data releases and their impact on both the dollar and the rupee's movements."
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.