MUMBAI: The Indian Rupee on Thursday strengthened to the psychologically critical 81.84-per-dollar level as inflation in the US melted hinting the end of the rate hiking cycle by Federal Reserve.
The rupee finished up 0.28% at 81.85 per U.S. dollar, having risen upto 81.8375 during the session. It ended little changed for the week after rising for three straight weeks.
At the interbank foreign exchange market, the local unit opened at 81.99 against the US currency and finally closed at 81.84 (provisional) against the greenback, registering a gain of 27 paise over its previous close.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.23% to 101.26. Global oil benchmark Brent crude futures declined 0.27% to $87.09 per barrel.
Gold price jumped Rs 340 to Rs 61,280 per 10 grams. Silver also plunged Rs 1,110 to Rs 77,150 per kilogramme.