MUMBAI: The rupee appreciated 8 paise to close at 83.31 against the US dollar as the Reserve Bank of India on Friday kept the benchmark interest rate unchanged at 6.5 per cent for the seventh time in a row.
However, a strong US dollar against major rivals overseas and elevated crude oil prices capped sharp gains for the local unit, forex traders said.
At the interbank foreign exchange market, the local unit opened at 83.44 against the greenback. The unit hit an intra-day high of 83.26 and a low of 83.45.
