Rupee logs 3rd straight day gains, up 12 paise at 71.72

MUMBAI: The Indian rupee continued its winning momentum for a third session in a row on Friday, rising 12 paise to settle at 71.72 against the US dollar as signs of easing trade tensions between the US and China enthused investors. On a weekly basis, the domestic currency, however, lost 30 paise to the US dollar.

The Indian currency has appreciated by 67 paise in the last three trading sessions. On Friday, the local unit opened on a strong note at 71.87 and finally closed at 71.72, higher by 12 paise over its previous close.

During the day, the domestic unit shuttled between a high of 71.59 and low of 71.89 during the day. The rupee had settled at 71.84 against the US dollar on Thursday.

In a major boost to investor sentiment globally, China and the US have agreed to hold the next round of trade negotiations in Washington in early October to end the bruising trade war.