The rupee gained 94 paise to close at 52.70/71 to the US dollar Friday, a day after the RBI intervened to check its slide. Given the rupee gain, the oil PSUs also decided Friday not to hike petrol prices for now, and will wait some more time.
The RBI, meanwhile, kept interest rates steady, pausing its rate hikes and hinted at rate cuts “from this point on”. The BSE’s Sensex fell 345 points to a two-year low at 15,491.35.