Indian rupee hits more than 1-week high

MUMBAI, Sept 10 (Reuters): The Indian rupee hit a more than one-week high against the US currency on Friday, as the dollar index fell further from a two-decade high scaled earlier this week.
The rupee was trading at 79.6350 per US dollar, as of 0502 GMT, up from 79.71 in the previous session. The local currency had reached 79.57 earlier in the session.
For the week, the rupee has gained about 0.2 per cent and is headed for its best performance in seven weeks.
The dollar index declined 0.8 per cent to 108.84 and was poised for its worst session in a month. The gauge had climbed to near 110.80 earlier this week, the highest in 20 years.
Brent crude futures were hovering near $89.50, shedding about 18 per cent since the beginning of August.
Lower oil prices and a weaker dollar "are good enough" for traders to add on short rupee speculative positions, said Anindya Banerjee, head research - fx and interest rates at Kotak Securities.