The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.28 per cent to 111.412.
The rupee appreciated 23 paise to close at 79.72 (provisional) against the US dollar on Thursday
The Indian rupee fell sharply on Monday and touched the 80 mark against the US dollar after the Federal Reserve chair Jerome Powell's hawkish speech.
At the interbank foreign exchange market, the Indian currency ended at 79.02, as against 79.25 closed on the previous trading session. The rupee has touched a high of 79.00 and low of 79.22 before ending at 79.02.
Crude oil prices trading near USD 100 per barrel level, however, supported the local unit, forex dealers said.
However, runaway depreciation might not happen amid the central bank's intervention, Trivedi said.
The rupee fell 14 paise to 77.69 per US dollar.
At the interbank foreign exchange, the rupee opened at 77.17 against the American dollar, then lost ground to quote at 77.42, registering a fall of 52 paise from the last close.
Sanctions against Russia could undermine the global dominance of the US dollar, according to Gita Gopinath, the First Deputy Managing Director of the International Monetary Fund (IMF)
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