The rupee firmed 10 paise to 71.87 against the US dollar Friday on increased selling of the US currency by exporters and banks.
The rupee firmed 10 paise to 71.87 against the US dollar Friday on increased selling of the US currency by exporters and banks.
Besides, weakness in the greenback against some currencies overseas, increased foreign fund inflows and a higher opening of domestic equities supported the rupee, traders said.
Foreign funds bought shares worth a net of Rs 2,043.06 crore Thursday, as per provisional data.
At the interbank forex market, the rupee opened higher at 71.94, and advanced 10 paise to 71.87 against the US dollar.
The rupee had vaulted 34 paise to close at a two-month high of 71.97 against the US dollar Thursday on robust foreign fund inflows amid low crude oil prices.
Meanwhile, the benchmark BSE Sensex rose 96.29 points, or 0.28 per cent, to 35,356.83 in early session Friday.
The British pound struggled to stay afloat in Asian trade on Friday having suffered a tumultuous slide overnight, as investors feared political turmoil in the country could see it crash out of the European Union without a divorce deal.
Both the dollar and the yen benefited from a deepening crisis for UK Prime Minister Theresa May after the resignation of key ministers from her government imperilled her Brexit plan.
That left the sterling vulnerable to further losses. It was changing hands at $1.2792, barely holding steady after declining 1.7 percent on Thursday, its steepest percentage slide since Oct. 11 2016.
"Political troubles are never good for the currency but in the case of the UK, the pound could drop to 1.25 versus the dollar on the prospect of a no deal Brexit, leadership challenge and slower growth," Kathy Lien, managing director of currency strategy at BK Asset Management said in a note.
The resignations, including that of Brexit minister Dominic Raab, came hours after May had claimed backing for a draft divorce deal. The hostility from government and opposition lawmakers raised the risk that the deal would be rejected in parliament, and that Britain could leave the EU on March 29 without a safety net.
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 "Rupee rises 10 paise against US dollar to 71.87")
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