The Indian rupee eked out 8 paise gains to close at 74.34 against the US dollar on Friday, helped by weaker greenback against key rivals and positive domestic equities.
At the interbank forex market, the local unit opened at 74.41 against the greenback and witnessed an intra-day high of 74.25 and finally ended the day at 74.34, registering a gain of 8 paise from its previous close of 74.42.
On a weekly basis, the rupee depreciated 5 paise against the American currency.
"Rupee traded strong as capital market gains, mainly financial sector performance, helped rupee appreciation. Dollar traded weak, keeping less pressure on rupee as rupee digested the strong banking rally. Range for rupee can be seen between 74.20-74.60," said Jateen Trivedi, Senior Research Analyst at LKP Securities.