USD/INR closed at 69.15 against its opening at Rs 69.04. USD/INR snapped three-day fall Friday on buying by nationalised banks likely on behalf of oil importers. Also, upbeat jobless claims data and producer price index from the US supported dollar demand. Dollar demand today was mainly supported by oil bids and strong US data. PSBs and private banks were on buy side.
Crude oil prices continued to stick above $71/bbl, as supported by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on petroleum exporters Iran and Venezuela.Brent futures for June delivery traded 0.30% higher at $71.04 a barrel on Friday.
The greenback surged against major currencies after a solid producer price index data and a fall in weekly jobless claims cheered investors' sentiment and soothed concerns of a possible economic slowdown.
The dollar index, greenback against a basket of six major currencies, traded at 96.84 Friday compared to 96.98 at close of Indian market on Thursday.
Sensex provisionally ends 124 points higher with 18 components in the green.