Rupee weakens against US dollar on Friday
Indian rupee weakened against the US dollar on Friday amid the strength of the American currency overseas and weak domestic equities following uncertainty surrounding tariff imposition by the United States. US President Donald Trump has changed the date to levy 25% tariff on Canada and Mexico several times, leaving the market participants across the globe confused. Moreover, Foreign Institutional Investors offloaded equities worth Rs 556.56 crore in the capital markets on net basis on Thursday, exchange data showed. Meanwhile investors are cautiously awaiting the upcoming economic data releases for directional cues.
The partially convertible currency is currently trading at 87.39, weaker by 21 paise from its previous close of 87.18 on Thursday. The currency touched a high and low of 87.4075 and 87.32 respectively.
