The rupee strengthened by 8 paise to close at 73.16 against the US dollar on Friday after the Reserve Bank of India decided to keep benchmark interest rate unchanged. The RBI kept repo rate unchanged at 4 per cent but maintained an accommodative stance, implying more rate cuts in the future if the need arises to support the economy hit by the COVID-19 crisis. At the interbank forex market, the rupee opened at 73.21 against the American currency and rose to a day’s high of 73.02.