The rupee recovered from its all-time low level and appreciated 6 paise to 83.72 (provisional) against the US dollar on Friday, on strength in the domestic markets and expectations of fresh foreign inflows.

Forex traders said the rupee traded within a narrow range, taking cues from the dollar index, which remained flat.

Revenue Secretary Sanjay Malhotra on Friday, July 26, said the rationalisation of the capital gains taxes on various assets in the Union Budget 2024 is a tax simplification measure as sought by the industry and not to augment revenue.

Malhotra said the changes in "capital gains tax is a simplification measure and not a revenue augmentation measure. Yes, there is a revenue increase, but that is very, very marginal. It is a simplification exercise which all of you (industry) asked for".

Silver prices on Friday fell ₹321 to ₹81,010 per kilogram as participants reduced their bets.

On the Multi Commodity Exchange, silver contracts for September delivery declined by ₹321 or 0.39% to ₹81,010 per kg in a business turnover of 29,281 lots.

Globally, silver was trading 1.13% lower at USD 28.99 per ounce in New York.

Gold prices on Friday rose ₹328 to ₹67,790 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for August delivery traded higher ₹328 or 0.49% at ₹67,790 per 10 grams in a business turnover of 6,050 lots.