Indian rupee appreciated against the US dollar on Friday amid positive domestic markets. Besides, there were expectations of a Federal Reserve rate cut in the upcoming September meeting. Traders took note of a private report that US President Donald Trump’s nominee for the next ambassador to India, Sergio Gor, said the Trump administration wants India, with its massive middle-class market larger than that of the US, to buy American crude and oil products, adding that the ongoing trade talks are aimed in that direction. On the global front, antipodean currencies such as the Australia and the New Zealand dollars strengthened against their major currencies in the Asian session on Friday amid increased risk-on mood by the investors, as weaker than expected U.S. consumer price inflation and producer price inflation data as well as recent downbeat monthly jobs data have reinforced expectations of a U.S. Fed rate cut at next week's meeting.

Finally, the rupee ended at 88.26 (Provisional), appreciated by 09 paise from its previous close of 88.35 on Thursday. The currency touched a high and low of 88.42 and 88.24 respectively.