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The rupee was trading weak by 9 paise to 66.13 per dollar in the evening deals following fresh demand for the US currency from banks and importers on the back of higher dollar overseas.
The dollar held steady against a basket of major currencies on Friday as a sense of calm returned to financial markets, capping off a tumultuous week when the greenback hit seven-month lows against the euro and the yen.
The dollar index was at 95.654, off a one-week high of 96.031 set on Thursday. Since diving to a seven-month trough of 92.621 on Monday, the index has recovered more than 3 per cent.
The Indian rupee opened almost flat at 66.03 per dollar against yesterday’s closing level of 66.04 at the Interbank Foreign Exchange (Forex) market.
It moved in a range 66.20 to 66.02 in the evening trade before quoting 66.13 at 3.50 p.m. local time.
“US GDP data suggests that economic conditions are getting better and on the right track. Taking cues from Indian equities opening positively, while profit-booking at higher level may cap the gain.” a dealer said.
“Rupee is also expected to trade strong, supported by local equities, the range for the rupee between 65.60-66.60 per dollar,” he added.
Crude oil extended gains in Asia following a 10 per cent price surge in the previous session fuelled by strong US economic data.
Meanwhile, the benchmark BSE Sensex ended higher by 161.19 points or 0.61 per cent at 26,392.38.
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