USD/INR closed at 71.64 against its opening at 71.78. USD/INR rupee closed higher Thursday as oil prices hovered close to $60 a barrel, inducing oil importers to rush to shore up their reserves, while a firm greenback further aid gains in the spot pair. Oil prices surged near $60/bbl and US dollar is also firm. Crude oil prices surged close to $60/bll on easing demand worries with a slowing of new coronavirus cases in China and supply curtailed by a US move to cut more Venezuelan crude from the market. The US announced new sanctions on a Swiss subsidiary of Russian oil giant Rosneft for assisting Venezuela evade US sanctions on its oil exports. Brent crude oil futures for April delivery traded 0.07% higher at $59.16 a barrel during Asian trades Thursday. The dollar index, which tracks the greenback against a basket of six major currencies, traded at 99.70 Thursday compared with 99.56 at close of Indian market on Wednesday.