The Indian rupee settled for the day marginally higher by 2 paise at 94.49 (provisional) against the US dollar on Friday, supported by optimism over rising foreign inflows and a rise in risk appetite. The pair registered a weekly gain of 1.13%. However, rising crude oil prices and escalating US-Iran geopolitical tensions is seen limiting the upside gains. Local shares closed higher on Friday, with benchmark indexes snapping a four-day losing streak, as dovish comments from Federal Reserve Governor Christopher Waller prompted traders to scale back expectations of a Federal Reserve rate increase this month. The 30-share BSE Sensex rose 362.57 points, or 0.48 percent, to 76,515.43 despite concerns over elevated oil prices and caution ahead of the August U.S. nonfarm payrolls report later in the day, which could offer additional clues on the Federal Reserve's policy path. The benchmark index hit as high as 76,883.14 in intra-day trading before paring gains.
