The Indian rupee consolidated in a narrow range and settled 2 paise lower at 83.56 (provisional) against US dollar on Friday, as positive domestic markets and a decline in crude oil prices supported the rupee, while strong US Dollar and FII outflows capped sharp gains. Indian shares rose modestly on Friday to extend gains for a fourth straight session. The benchmark S&P/BSE Sensex ended the session up 181.87 points, or 0.24 percent, at 76,992.77 while the broader NSE Nifty index closed at 23,465.60, up 66.70 points, or 0.29 percent, from its previous close. At the interbank foreign exchange, the local unit opened at 83.54 and finally settled for the day lower by 2 paise at 83.56 (provisional) against the American currency.
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