MUMBAI: Rupee held firm in afternoon trade on Friday helped by corporate dollar sales, positive domestic equities and some portfolio flows. At 2:28 p.m., the partially convertible rupee was at 51.30/31 per dollar, 0.3 percent higher from Thursday's close of 51.46/47 when it had risen 1.4 percent, its biggest one-session rise since May 18, 2009. Outlook on dollar inflows has brightened following the co-ordinated central bank action aimed at easing euro zone funding woes and bolstering growth. The federal government's move last week to liberalise foreign direct investment in multi-brand retail chains alongwith the central bank's decision to ease rules on overseas borrowings by firms and raise ceiling on interest rates for deposits by non-resident Indians has improved view on dollar supply. India's main share index recovered all early losses and was up nearly 1.8 percent. The euro struggled to make much headway on Friday, consolidating this week's gains as traders stuck to the sidelines ahead of a crucial U.S. jobs report and event-packed week that could prove decisive for the currency bloc. The non-farm payrolls report is expected to show an increase of 122,000 jobs and a steady unemployment rate of 9.0 percent.

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