Rupee weakens against US dollar in early trade on Monday
The Indian rupee weakened against the US dollar in early trade on Monday amidst weak domestic equities, firmer crude oil prices and persistent foreign fund outflows, while strong dollar demand from importers has continued. Foreign Institutional Investors sold equities worth Rs 438.90 crore on Friday, exchange data showed. Market sentiments fell further as investors turn cautious ahead the Fed’s policy decision this week, while India and the United States are set to begin three-day trade talks in New Delhi on December 10 to finalise the first phase of their proposed bilateral trade agreement.
The partially convertible currency is currently trading at 90.22, weaker by 27 paise from its previous close of 89.95 on Friday. The currency touched a high and low of 90.2625 and 90.0550 respectively.
