The Indian unit closed the day at 83.47 a dollar, compared to 83.54 on Thursday.
Yield on the benchmark 10-year-government bond rose by 4 basis points (bps) to settle at 7.23, compared to 7.19 per cent on Thursday.
"Global leaders' calls for restraint eased market fears, leading to a recovery in the rupee after an initially weak opening. With the Indian elections underway, rupee volatility within the range is expected to persist. The rupee's range is anticipated to be between 83.20-83.70," said Jateen Trivedi, VP research analyst commodity and currency, LKP Securities.
The unit fell to a fresh low of 83.70 against the US dollar in the non-deliverable forwards (NDF) market. Market participants said intervention by the Reserve Bank of India (RBI) prompted the rupee to open at 83.56 against the dollar in the over-thecounter (OTC) market.
Traders in the government bond market wound up their positions ahead of the weekend to mitigate risk, contributing to an uptick in yields.

₹ hits new intraday low, bond yields surge

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{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.