The rupee rose 4 paise to close at 88.66 against the US dollar on Friday, aided by a rebound in domestic equities towards the closing of market hours and a sweeping mandate for the ruling alliance in the Bihar polls supporting the local unit at lower levels.
However, the strength of the American currency and rising crude oil prices prevented sharper gains in the local unit, forex traders said.
At the interbank foreign exchange market, the rupee opened at 88.70 against the US dollar. During the day, the domestic unit witnessed an intra-day low of 88.75 against the greenback.
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