Rupee Holds Steady Against Dollar Amid Strong American Currency
The Indian rupee closed unchanged at 95.89 against the US dollar on Friday, despite initial gains.
This stability was due to a strong American currency and positive momentum in domestic equity markets, according to forex traders.
The rupee's fall was also capped as crude prices slid below $104 per barrel, and US bond yields eased after the Federal Reserve hiked interest rates by 25 basis points.