The Indian rupee closed stronger towards the U.S. greenback on Friday amid falling crude oil value and sure overseas capital inflows into native shares.

The native forex appreciated seven paise to shut at Rs 83.16 towards the U.S. greenback after opening at Rs 83.24 on Friday. It closed at Rs 83.23 on Thursday, in keeping with Bloomberg knowledge.

“U.S. ADP Employment Change figures from December came in better than expected. Weekly jobless claims were also positive. Focus has now shifted to upcoming U.S. Nonfarm Payrolls and Unemployment Rate due later today,” Kunal Sodhani, vp of Shinhan Bank stated.

“For dollar/rupee, Rs 83.15 will act as a support and Rs 83.35 as a resistance,” he stated.

“We expect fundamentals and global volatility in the dollar to directly affect the pair. The dollar index fell from 107.40 at the start of November 2023 to 100.80 at the end of December 2023 and has now rebounded to 102.40. Despite this, the rupee has maintained its tight range of 40-50 paise,” Amit Pabari, managing director at CR Forex Advisors.