USD/INR closed at 68.60 against its open at 68.69.Dollar rebounded after opening little changed Friday on buying by oil importers amid tracking the firmness in greenback while investors await the release of US jobs data.
The greenback surged to near two-week high against other major currencies as investors continued to believe on the country's strong economy after a positive assessment at the Federal Reserve's meeting.
Crude oil prices reversed its initial losses on short-covering by traders.
Brent crude oil futures for September delivery traded at $73.43 a barrel on Friday.
Markets will focus on the US non-farm payrolls report due later today, stronger data will support the Fed's stand of further increases in rates."For the July employment report, we look for nonfarm payrolls to rise 175,000 and private payrolls to increase 160,000. This would represent some modest slowing from the recent trend pace of hiring and, in our view, could reflect increasing concerns over protectionism. We expect the unemployment rate to decline 0.1pp, to 3.9%, and average hourly earnings to increase 0.3% m/m and 2.7% y/y. Finally, we forecast an unchanged work week at 34.5 hours," said Barclays in a research report.
Sensex provisionally ends 395 points higher with 23 components in the green.