USD/INR closed at 71.92 against its open at 71.99. Dollar dropped on Friday on selling by exporters amid weakness in the greenback.
Fitch on Thursday retained its sovereign rating for the country at'BBB-', the lowest investment grade with a stable outlook. The rating agency said that a weak fiscal position continues to constrain the ratings and there were significant risks to macroeconomic outlook.
For the last two consecutive sessions, the overseas investors remained net buyers of local shares driven by earnings performance that met expectations while amid weak global growth.
The greenback remained subdued against its major peers as investors digested the mixed US economic data.Retail sales in the US increased by more than anticipated in the month of October, the Commerce Department revealed in a report.
The Commerce Department said retail sales advanced by 0.8% in October following a revised 0.1% dip in September. A separate report from the Labour Department showed a slight increase in first-time claims for US unemployment benefits in the week ended November 10th.
The report said initial jobless claims inched up to 216,000, an increase of 2,000 from the previous week's unrevised level of 214,000. Economists had expected jobless claims to edge down to 212,000.The Labour Department also released a report showing import and export prices both rose by more than expected in the month of October.
NSE Nifty closed higher at 10,682.2, while BSE Sensex ended up 0.56 percent at 35,457.16