The rupee rose 1 paisa to 88.11 against the US dollar in early trade on Friday on the back of a weaker greenback and a drop in global crude oil prices.
However, sustained FII outflows capped further gains in the local unit, according to forex traders.
Positive sentiments in the domestic equity markets further lent support to the rupee, which had slipped to its record low-level earlier this week, they said.
At the interbank foreign exchange, the rupee opened at 88.11 against the US dollar and then slipped to 88.15 before returning to 88.11, up 1 paisa from its previous close.
The local unit fell 10 paise to close at 88.12 against the US dollar on Thursday.
“The rupee is expected to remain in a range of 88-88.30 for today (Friday) as we await US non-farm payrolls data,” Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said, pointing out that the Reserve Bank of India has been protecting 88.20 since the past four days.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.24 per cent to 98.10.
Brent crude, the global oil benchmark, was trading 0.15 per cent lower at $66.89 per barrel in futures trade.
On the domestic equity market front, Sensex rose 318.55 points to 81,036.56 in early trade, while Nifty rallied 98.05 points to 24,832.35.
Foreign institutional investors offloaded equities worth ₹106.34 crore on Thursday, according to exchange data.
Published on September 5, 2025
