The indian rupee furthered its gains by 5 paise to close at 71.71 against the US dollar on friday, helped by sustained foreign fund inflows and lower crude oil prices. Starting on a steady note, the rupee went through bouts of volatility during the session and touched an intra-day low of 71.87 against the US dollar. The domestic unit found some stability later and finally settled at 71.71, up 5 paise over its previous close.

On a weekly basis, the indian currency gained 7 paise. Experts attributed the initial bouts of volatility in the forex market to lack of guiding factors on the domestic front and uncertainty with regard to ongoing global trade tariff tussle.

"Next week, focus will be on second quarter GDP numbers and weaker-than-expected number could keep the rupee weighed down against the US dollar. For the next couple of sessions, we expect that volatility for the rupee could be confined to a range of 71.50 and 72.05," said Gaurang Somaiyaa, Forex & Bullion Analyst, Motilal oswal Financial services Private Ltd. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.04 per cent to 98.02.

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