MUMBAI: The rupee closed at 91.75 against the dollar on Friday, down 15 paise from the previous close of 91.6, after a largely range-bound session marked by pressure from higher crude oil prices and foreign fund outflows.Suspected intervention by the central bank too influenced market movements. Heavy selling in domestic equities and withdrawals by foreign investors weighed on the currency. However, losses were limited after the US administration allowed refiners to continue purchasing Russian oil for 30 days, easing concerns over global energy supply disruptions linked to the conflict in West Asia.“With crude remaining firm, the rupee could continue to face downside pressure in the near term. The expected trading range for the currency is 91.25-92.50, with commodity prices and dollar index movement remaining the key drivers.” Said Jateen Trivedi, an analyst with LKP Securities.
