2025-01-10 11:52:57 am | Source: Accord Fintech
Rupee weakens against US dollar on Friday
Indian rupee weakened against the US dollar on Friday due to strengthening American currency in anticipation of restrictive trade measures by US President-elect Donald Trump, while expectations of slower-than-anticipated interest rate cuts by the US Federal Reserve has also kept rupee under pressure. Moreover, massive outflow of foreign capital and higher crude oil prices have also weighed on rupee sentiments. Foreign institutional investors offloaded Rs 7,170.87 crore in the capital markets on a net basis on Thursday, exchange data showed.
The partially convertible currency is currently trading at 85.89, weaker by 3 paise from its previous close of 85.86 on Thursday. The currency touched a high and low of 85.9025 and 85.8525 respectively.
Disclaimer:
The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references.
To Read Complete Disclaimer Click Here
Latest News
The Life of Handicapped People: Challenges, Triumphs...
Holi festival is the messenger of unity, says CM Yogi
Celebrate Holi traditionally with mutual brotherhood...
May this festival of colours bring new enthusiasm, e...
Safe-haven gold rises above $3,000 for the first time
India were well-balanced team in Champions Trophy du...
World Kidney Day: Crucial to raise awareness on earl...
Tamannaah Bhatia: Fashion has become almost a way of...
Radhikka Madan fondly remembers late Irrfan Khan as ...
Kajol, Shilpa Shetty and other celebs shower birthda...
