Rupee weakens against US dollar in early trade on Friday
The partially convertible currency is currently trading at 90.94, weaker by 3 paise from its previous close of 90.91 on Thursday
The Indian rupee weakened against the US dollar in early trade on Friday, weighed down by foreign fund outflows from the Indian capital markets. Exchange data showed that Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,465.99 crore on Thursday. Rupee fell further by tracking weak domestic equities after the recent US-Iran negotiations over Iran's nuclear programme concluded without a breakthrough, heightening concerns over the possibility of a US strike and the risk of a broader Middle East conflict. However, a weaker American currency has limited a fall in the local unit.
The partially convertible currency is currently trading at 90.94, weaker by 3 paise from its previous close of 90.91 on Thursday. The currency touched a high and low of 90.9675 and 90.9150 respectively.
