The rupee touched a low of 85.10/$1 during the day before closing at 85.01/$1, slightly stronger than its previous close of 85.07/$1, LSEG data showed. The currency fell 0.2% on a weekly basis.
RBI’s intervention at the 85.10/$1 level helped prevent further depreciation in the rupee, traders said.
“The rupee rallied slightly due to rebalancing inflows of about $1 billion through the FTSE and possibly RBI intervention as the rupee rose to 85.01/$1 from 85.1/$1,” said Anil Bhansali, head of treasury at Finrex Treasury Advisors.
The dollar index was slightly lower at 108.2, down 0.2% from the previous day, retreating from a two-year high.
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Investors now await US Personal Consumption Expenditure (PCE) data expected later on Friday. The focus was on US PCE data after the US Federal Reserve pointed to higher inflation and scaled back rate cut projections for 2025.
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