Dollar/rupee closed at Rs 69.79 Friday compared to its open of Rs 69.51/$1. Dollar/rupee ended at two-week high Friday on buying by nationalised banks amid defence-related dollar buying and likely overseas outflows from local stocks. Defense-related buying was there. Nationalised banks were buying. Few foreign banks also bought dollars likely on behalf of FIIs pulling out of local equities.

Local stocks ended lower dragged by across-the-board selling, particularly in heavyweight banking stocks on negative global cues.Uncertainty over US-China trade talks and escalating tensions between the US and Iran after attacks on two oil tankers in the Gulf of Oman on Thursday hurt sentiment.  
Brent futures for August delivery traded at $61.76 a barrel after trading at $62.30 at the time of rupee closing on Thursday.Crude oil has given back a part of the gains it made in the previous session upon news of attacks on two oil tankers in the Gulf of Oman with the rise in US inventories and ongoing trade war situation continuing to exert downward pressure on prices.

Investors now await key events slated for later this month including the Fed's June policy review and the G20 meeting in Osaka on June 28-29.Also, Investors keep an eye on any updates from the ongoing global trade tensions, and on the domestic front, the full year Budget by the newly sworn-in Modi government scheduled for July 5. Brent futures for August delivery traded 0.59% up at $61.67 a barrel on Friday.

The dollar index, which tracks the movement of the greenback against a basket of six major currencies, traded at 97.45 Friday late compared to 96.98 at close of Indian market on Thursday.
The greenback retraced its way back to above 97 level and remained steady against its major counterparts as investor focus turned to next week's Federal Reserve monetary policy meet for further cues on a possible interest rate cut in light of rising risks to trade and global growth.

Nifty ends below 11,850, Sensex falls 289 points.