Rupee rises 6 paise to close at 94.34 against US dollar

MUMBAI: (Jun 19) The rupee pared most of its initial gains and settled for the day higher by just 6 paise at 94.34 (provisional) against the US dollar on Friday, as a firming dollar index and rising crude oil prices weighed on investor sentiments.

Forex traders said the rupee opened on a positive note, on optimism that trade negotiations between India and the US are set to gain momentum.

Indian Foreign Secretary Vikram Misri on Thursday said trade was a major subject of discussion between Prime Minister Narendra Modi and US President Donald Trump, with both leaders directing their negotiators to finalise the proposed trade pact at the earliest.