2025-05-16 12:17:13 pm | Source: Accord Fintech
Rupee weakens against US dollar on Friday
Indian Rupee weakened against the US dollar on Friday, tracking weak domestic equity indices and rise in crude prices. Meanwhile, traders were cautious after the trade deficit widened to a five-month high of $26.42 billion as imports rose 19.12% year-on-year to $64.91 billion and exports rose 9.03% year-on-year to $38.49 billion in April. However, some fall was limited by strong FII inflows and a weaker dollar index. Foreign institutional investors bought equities worth Rs 5,392.94 crore on a net basis on Thursday, exchange data showed.
The partially convertible currency is currently trading at 85.62, weaker by 8 paise from its previous close of 85.54 on Thursday. The currency touched a high and low of 85.70 and 85.28 respectively.
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