Rupee weakens against American dollar in early trade on Friday
The Indian rupee weakened against the American dollar in early trade on Friday, weighed down by higher crude oil prices due to escalating geopolitical tensions between the United States and Iran. Moreover, stronger US dollar following robust US economic data and hawkish comments from Fed Governor Stephen Miran have also dampened rupee sentiments. Rupee fell further with exchange data showing that Foreign institutional investors offloaded equities worth Rs 880.49 crore, while Domestic Institutional Investors sold shares worth Rs 596.28 crore on Thursday. The currency exchange markets were closed on Thursday on account of Chatrapati Shivaji Maharaj Jayanti.
The partially convertible currency is currently trading at 90.96, weaker by 28 paise from its previous close of 90.68 on Wednesday. The currency touched a high and low of 90.98 and 90.94 respectively.
