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The Indian rupee recovered from all-time lows and settled for the day higher by 7 paise at 88.28 (provisional) against the US dollar on Friday, on weakness in the US dollar index and positive domestic markets. Indian shares rose on Friday as rising jobless claims coupled with in-line U.S. consumer price inflation data spurred expectations for more Federal Reserve rate cuts. The benchmark BSE Sensex rose 355.97 points, or 0.44 percent, to 81,904.70. The broader NSE Nifty index closed up 108.50 points, or 0.43 percent, at 25,114, extending its winning run to an eighth straight session. The domestic unit traded in a tight range and hovered around its all-time low level as tariff-led pressure on India's exports and sustained foreign fund outflows dented investor's sentiments. At the interbank foreign exchange, the domestic unit opened at 88.39 and fell to an intraday low of 88.42 against the US dollar during the session. The domestic unit settled for the day at 88.28 (provisional), recovering 7 paise over its previous close.

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