Rupee weakens against US dollar in early trade on Friday
The Indian rupee weakened against the US dollar in early trade on Friday, tracking weak domestic equities and foreign fund outflows from the Indian capital markets following uncertainty over the India-US trade deal. Foreign institutional investors offloaded equities worth Rs 2,133.69 crore on a net basis on Thursday, exchange data showed. Meanwhile, investors are still cautious ahead of US President Donald Trump's tariff deadline, policy decisions by the Federal Reserve and the Bank of Japan, alongside key US data prints. Moreover, rebound in the American currency after data revealed the strength of the US labour market, with jobless claims falling for the sixth straight week, also dampened rupee sentiments.
The partially convertible currency is currently trading at 86.52, weaker by 12 paise from its previous close of 86.40 on Thursday. The currency touched a high and low of 86.59 and 86.4725 respectively.
