The Indian rupee strengthened 52 paise to close at 93.89 (provisional) against the US dollar on Friday, supported by a weaker US dollar, declining crude oil prices and easing concerns over import costs.
Forex traders said gains in domestic equity markets and concerns over a slowdown in AI spending also supported the domestic currency.
At the interbank foreign exchange market, the rupee opened at 94.50, touched an intraday high of 93.82 and a low of 94.50 before settling at 93.89 against the US dollar.