Rupee rises by 54 paise, closes at 89.66/$

New Delhi: The rupee appreciated 54 paise to close at 89.66 (provisional) against the US dollar on Friday, supported by corporate dollar inflows and easing crude oil prices.

Forex traders said a positive trend in domestic equities and Brent crude oil prices hovering near $59 per barrel supported the domestic unit at lower levels. The gain in the USD/INR pair follows the rupee’s string of record lows in recent weeks, likely on intervention from the Reserve Bank of India, they added.