Rupee weakens against US dollar on Friday
The partially convertible currency is currently trading at 91.66, weaker by 2 paise from its previous close of 91.64 on Thursday
The Indian rupee weakened against the US dollar on Friday tracking weak domestic equities and withdrawal of foreign funds from Indian capital market, despite a retreating American currency overseas. Foreign institutional investors sold equities worth Rs 3,752.52 crore on a net basis on Thursday, exchange data showed. However, some losses were limited by likely Reserve Bank of India intervention, and after the US announced a 30-day waiver for Indian refiners to purchase Russian oil to stabilize global supply amid West Asian conflicts.
The partially convertible currency is currently trading at 91.66, weaker by 2 paise from its previous close of 91.64 on Thursday. The currency touched a high and low of 91.68 and 91.59 respectively.
