The rupee rose 9 paise to 87.79 against the dollar in early trade on Friday (October 24), bolstered by a drop in global crude oil prices and optimism around an India-US trade deal.

However, FII outflows prevented sharper gains, forex traders said.

At the interbank foreign exchange, the rupee opened at 87.78 against the US dollar before dropping marginally to 87.79, down 9 paise from its previous close.

The rupee appreciated 5 paise to close at 87.88 against the US dollar on Thursday (October 23).

”The Reserve Bank of India was again present at 87.95 yesterday (Thursday), ensuring that the rupee does not cross 88.00 level and the rupee closed with optimism of a US-India trade deal at its peak. Global sentiment remains mixed as oil prices move higher,” Anil Kumar Bhansali, Head of Treasu

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