The Indian rupee on Friday strengthened further against the US dollar to appreciate up to Rs 83.48 per dollar during the day, before settling at 83.57 per dollar—a two-month high. The local currency witnessed its highest weekly gain in the current calendar year. The domestic unit appreciated by 0.4 per cent against the dollar during the week.

The rupee stayed on the upward track for a record seventh straight session and settled 10 paise higher at 83.55 (provisional) against the dollar on Friday, as robust domestic equity markets and retreating crude oil prices boosted investors' sentiment.

Rupee strengthens against US dollar, supported by domestic equity market, lower crude oil prices, and Fed rate cut.