Rupee weakens against US dollar in early trade on Thursday
The partially convertible currency is currently trading at 94.07, weaker by 29 paise from its previous close of 93.78 on Wednesday
The Indian rupee weakened against the US dollar in early trade on Thursday after Brent crude oil climbing back above the $100-per-barrel mark amid a lack of progress in West Asia peace talks and as both Iran and the United States maintained restrictions on the flow of trade through the Strait of Hormuz. Moreover, firm American currency, massive selling of domestic equities and continued foreign fund outflows have also dampened rupee sentiments. Foreign Institutional Investors offloaded equities worth about Rs 2,078.36 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 94.07, weaker by 29 paise from its previous close of 93.78 on Wednesday. The currency touched a high and low of 94.17 and 93.98 respectively.
