Rupee gains 3 paise against dollar, closes at 95.42

The rupee gained 3 paise to close at 95.42 (provisional) against the US dollar on Friday, supported by weakness in the greenback against major global currencies.

However, foreign fund outflows and elevated crude oil prices continued to weigh on the domestic currency amid geopolitical uncertainties.

The rupee moved in a narrow range of 95.38-95.44 during the session. On Thursday, it had closed 12 paise lower at 95.45.

Analysts expect the rupee to remain range-bound in the near term, with crude prices and the dollar remaining key factors to watch.