On Friday, the Indian rupee gained 8 paise to close at 74.43 against the US dollar, aided by a correction in crude oil prices and a weaker greenback against key rivals. However, analysts believe that the rupee's further recovery will be hampered by ongoing foreign fund outflows and sell-offs in domestic equities. The rupee opened at 74.50 per dollar on the interbank foreign exchange market, with an intra-day high of 74.40 and a low of 74.55 against the American currency. The domestic unit eventually settled at 74.43 against the US dollar, up 8 paise from its previous close of 74.51. Meanwhile, the US dollar index, which measures the strength of the greenback relative to a basket of six currencies, fell 0.13 percent to 95.61. "The Indian rupee appreciated on the back of lower crude oil prices, corporate dollar inflows, exporter’s dollar selling, and debt raising, which helped the rupee trim weekly losses," said Dilip Parmar, Research Analyst at HDFC Securities.