USD/INR closed at 68.65 against its opening at 68.6300. Dollar ended little changed Friday as strong greenback and month-end oil bids offset the impact of overseas funds inflow into local stocks and HDFC AMC IPO . The Pair is trading up Friday tracking the strength of the greenback against other major currencies after European Central Bank confirmed it won't raise interest rates through next summer 2019.
Also, month-end dollar demand by oil importers will support the currency pair.
The greenback surged, gaining against the euro after the European Central Bank confirmed it intends to end its bond purchases in December but probably won't raise interest rates through next summer.
The 10-year US Treasury note yield hovered near a six-week high as investors braced for a potentially strong reading of US gross domestic product data, set for release later on Friday.
While on the US economic front, June trade deficit widened to $68.3 billion and weekly initial claims rose more than expected by 21,700.
Moreover, Brent crude oil prices trade near $75 a barrel after Saudi Arabia suspended oil shipments through a strait in the Red Sea following an attack on two oil tankers and as trade tensions between the US and the European Union eased.
BSE Sensex closed 352.21 points up at 37,336.85, while the Nifty 50 ended 111.05 points higher at 11,278.35.