2026-05-08 11:39:20 am | Source: Accord Fintech
Indian rupee weakens against US dollar in early trade on Friday
The Indian rupee weakened against the US dollar in early trade on Friday driven by renewed geopolitical tensions in the Middle East as fresh clashes between US and Iranian forces near the Strait of Hormuz prompted Brent crude prices to rise back to $101 per barrel. Moreover, persistent foreign fund outflows also dampened rupee sentiments. Foreign Institutional Investors offloaded equities worth Rs 340.89 crore on Thursday, exchange data showed.
The partially convertible currency is currently trading at 94.55, weaker by 33 paise from its previous close of 94.22 on Thursday. The currency touched a high and low of 94.67 and 94.39 respectively.
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