Indian rupee appreciated against the US dollar on Friday helped by a fall in global crude oil prices, strong domestic equities and sustained foreign fund inflows. Traders took support with the exchange data showing that Foreign Institutional Investors (FIIs) extended their buying spree for the third consecutive session, purchasing equities worth Rs 934 crore on Thursday. Some support also came with Commerce and Industry Minister Piyush Goyal’s statement that India is in trade dialogues with countries with whom it doesn't compete but can complement the economies involved. On the global front, British pound weakened against other major currencies in the early European session on Friday, after U.K. retail sales declined more than expected in May on weak food store sales.
Finally, the rupee ended at 86.56 (Provisional), appreciated by 17 paise from its previous close of 86.73 on Thursday. The currency touched a high and low of 86.67 and 86.55 respectively.
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