The rupee touched its lowest level but pared all losses before ending 3 paise higher at Rs 88.09 against the US dollar on Friday amid sustained outflow of foreign funds and renewed concern over additional US tariffs on Indian IT sector exports.
A weak greenback and falling crude oil prices failed to prevent the fall in the local unit, forex traders said.
At the interbank foreign exchange, the rupee opened at 88.11 against the US dollar and touched the lowest-ever intra-day level of 88.38 before ending the session at 88.09 against the greenback, up 3 paise from its previous close.
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