On Friday, the rupee appreciated by 62 paise to close at 80.78 against the dollar.
“We expect the rupee to trade in 80.40-80.70 range intra-day with appreciation bias. A test of 80.10 in this swing is possible. We are likely to see some more inflows till month end into domestic equities on MSCI index re-balancing,” IFA Global Research Academy said in a research note.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, advanced 0.49 per cent to 106.80.
In the domestic equity market, the 30-share BSE sensex was trading 21.62 points or 0.03 per cent down at 61,773.42, and the broader NSE Nifty was trading up 19.80 points or 0.11 per cent to 18,369.50.
Foreign Institutional Investors (FIIs) were net buyers in capital markets as they purchased shares worth Rs 3,958.23 crore on Friday, according to exchange data.
On the domestic macroeconomic front, India’s industrial production expanded by 3.1 per cent in September, boosted by manufacturing, mining and power sectors, according to official data released on Friday.
Factory output had contracted by 0.7 per cent in the preceding month (August 2022). It grew by 2.2 per cent in July this year.