Rupee logs 1st gain in 4 days, up 7 paise at 64.52

Reversing its three-session downward trend, the rupee today reclaimed 7 paise to close at 64.52 on fresh bouts of dollar selling amid a caution ahead of key US macro data which will guide US Fed's rate policy going ahead.
At the forex market, the domestic unit resumed higher at 64.56 from overnight closing of 64.59 supported by fresh selling of the American currency by banks and exporters.
It was later trapped in a narrow range of 64.42 and 64.59 before concluding at 64.52, showing a gain of 7 paise, or 0.11 per cent.
The rupee has lost 16 paise in the last three days.

The forex market will be closed on Monday on account of Eid holiday.
The RBI, meanwhile, fixed the reference rate for the dollar at 64.5365 and for the euro at 72.0808.

Besides, robust capital inflows into equities predominantly supported the domestic currency, even as the forex market continued to price in a rate hike by the US Federal Reserve.
Though, overall sentiment was by and large tepid due to lack of key triggers even as traders refrained from taking any fresh positions ahead of a long weekend.
Crude oil prices steadied after hitting 10-month lows earlier this week.
Domestic equities retreated sharply as cautious investors booked profits in key heavyweights ahead of long weekend amid increased global economic uncertainty in the face of stunning fall in crude prices.

Foreign funds turned net buyers after recent spell of offloading and bought Indian equities worth Rs 192.68 crore yesterday, as per the provisional figures.
On the global front, the greenback traded lower against the other major currencies on Friday as traders were looking to US inflation data due next week to provide cues on the Federal Reserve's likely interest rate policy.
The dollar index, which tracks the US currency against a basket of six major rivals, was down at 97.09.
Euro climbs higher as euro zone manufacturing activity hits a 6-year high.
In cross-currency trades, the rupee drifted back against the pound sterling to settle at 82.10 from 81.87 per pound, but regained against the euro to finish at 72.02 from 72.15 earlier.

The home currency, however, held steady against the Japanese yen at 58.00 per 100 yens.
In forward market today, premium for dollar showed a steady to easy trend in the absence of any market-moving factors.
The benchmark six-month premium payable in November was quoted at 127-128 paise from 126-128 paise, while the far- forward May 2018 contract edged up to 271.5-272.5 paise from 269-271 paise on Thursday.
On the international commodity front, crude oil prices edged up on Friday, recovering some of their steep losses made this week.
The brent crude futures were up 28 cents at USD 45.50 a barrel in early Asian trade, while US West Texas Intermediate (WTI) crude futures traded at USD 43.04 a barrel.