Rupee up 5 paise at 71.71 against US dollar

The Indian rupee settled 5 paise higher at 71.71 against the US dollar on Friday, marking its second straight session of gains.

Forex traders said the domestic currency traded in a narrow range amid lack of cues on the domestic front.

At the interbank foreign exchange market, the rupee opened stronger at 71.77 against the US dollar. During the day, the domestic unit fluctuated between a high of 71.70 and a low of 71.87.

The rupee finally settled at 71.71, up 5 paise over its previous close.