Rupee weakens against US dollar on Friday
The Indian rupee weakened against the US dollar on Friday, weighed down by continued foreign fund outflows from the capital market and surge in global crude oil prices as US bill eases Venezuelan oversupply concerns. Foreign institutional investors offloaded equities worth Rs 3,367.12 crore on Thursday, exchange data showed. Moreover, rise in the U.S. Dollar index, concerns about further tariffs by the U.S. and weak domestic equity market also dampened rupee sentiments. While investors are now awaiting the crucial U.S jobs report for clues on the timing of the Federal Reserve's next rate cut.
The partially convertible currency is currently trading at 90.13, weaker by 23 paise from its previous close of 89.90 on Thursday. The currency touched a high and low of 90.1450 and 89.88 respectively.
