Currency watch: Rupee rises 7 paise to 88.72 against dollar; domestic markets and crude oil support gains

The rupee strengthened by 7 paise to close at 88.72 against the US dollar on Friday, driven by positive domestic market trends and declining crude oil prices. Central bank intervention provided support, while a firm US dollar limited sharper gains. Foreign inflows into equities and a retreat in crude oil prices also contributed to the rupee’s appreciation.