The Indian rupee appreciated 14 paise to close at 96.28 against the US dollar on Friday, snapping a four-session losing streak, aided by possible intervention by the Reserve Bank of India (RBI).
The domestic currency traded in a narrow range between 96.27 and 96.41 during the session after opening at 96.35 against the greenback before settling at 96.28.
Forex traders said that while RBI support helped the rupee recover, elevated crude oil prices driven by geopolitical tensions in West Asia continued to limit further gains.