Rupee Closes Stronger Against Dollar

The Indian rupee closed stronger on Friday amid a flat US dollar index.

The local currency appreciated two paise to close at Rs 83.49 against the greenback, according to Bloomberg data. It had closed at Rs 83.51 on Thursday.

A potential breakout in the USD-INR range on the downside can result in the rupee appreciating to levels between Rs 83 and Rs 83.20 in the near future, according to Amit Parbari, managing director of CR Forex Advisors.