Rupee weakens against US dollar on Friday
The Indian rupee weakened against the US dollar on Friday amid a rise in dollar demand as traders awaited US Fed Chief Jerome Powell's speech at the Jackson Hole Symposium later in the day. Moreover, uncertainty over the August 27 deadline for an additional 25% US tariff on Indian exports also weighed on rupee sentiments. However, positive foreign fund inflows and a decline in crude oil prices limited sharper losses in the domestic unit. Foreign Institutional Investors purchased equities worth Rs 1,246.51 crore on Thursday, exchange data showed.
The partially convertible currency is currently trading at 87.45, weaker by 20 paise from its previous close of 87.25 on Thursday. The currency touched a high and low of 87.4950 and 87.3250 respectively.
