The rupee rebounded from its all-time low level and settled with a gain of 8 paise at 84.80 against the US dollar on Friday, buoyed by a strong recovery in domestic equity markets and easing inflation data.
However, strengthening American currency overseas and surging global crude prices restricted the positive bias in the local unit, forex traders said.
At the interbank foreign exchange, the rupee opened at 84.87 and touched the intra-day high of 84.77 against the greenback. The unit finally ended the session at 84.80 against the dollar, logging a gain of 8 paise from its previous closing level.
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