India, April 18 -- The rupee appreciated by 29 paise to settle at 92.85 (provisional) against the US dollar on Friday, buoyed by a weakening American currency and retreating crude oil prices amid increasing hopes of easing geopolitical tensions.

Renewed buying in domestic equity markets and fresh inflow of foreign funds also supported the local currency, forex traders said.

At the interbank foreign exchange market, the rupee opened at 92.93 and touched an intraday high of 92.65 against the greenback. The unit also touched the day's low of 92.98 before ending the session at 92.85 (provisional) against the American currency, up 29 paise from the previous closing level.

On Thursday, the rupee gained 19 paise to settle at 93.14 against the...