The rupee spurted 15 paise to close at 71.66 against the US dollar on Friday, on hopes that the government will roll back the FPI surcharge and unveil measures to boost growth.
At the interbank foreign exchange market, the rupee opened weaker at 71.93 a dollar. It fell further to the day’s low of 72.05, before recouping losses to touch a high of 71.58. The local unit finally settled at 71.66, up 15 paise against its previous close.
The rupee had plunged to an over eight-month low of 71.81 on Thursday amid tumbling equities and incessant foreign fund outflows.