The Indian rupee settled with a marginal gain of 4 paise at 73.02 against the US dollar on Friday, even as the domestic equities continued their record-setting spree.
At the interbank forex market, the local unit opened at 73.05 against the greenback and witnessed an intra-day high of 73.01 and a low of 73.15. It finally ended at 73.02 against the American currency, registering a gain of just 4 paise over its previous close.On a weekly basis, the local currency has appreciated by 67 paise against the US dollar. According to HDFC Securities’ Dilip Parmar, spot USD/INR facing resistance around 73.15 and holding support at 72.90. “Expectations of dollar inflows from many corporates’ fund raising also weighed on the pair. In near term, spot USDINR is expected to consolidate before heading towards 72.