Rupee weakens marginally against US dollar on Friday
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Indian rupee weakened marginally against the US dollar on Friday due to sluggish domestic equities, despite RBI’s intervention and weak American currency at overseas market. Meanwhile, traders are awaiting more clues on the US Federal Reserve's interest rate outlook and the potential impact of President-elect Donald Trump's proposed trade tariffs. Foreign Institutional Investors purchased Rs 1,506.75 crore in the capital markets on net basis on Thursday, exchange data showed.
The partially convertible currency is currently trading at 85.76, weaker by 1 paise from its previous close of 85.75 on Thursday. The currency touched a high and low of 85.7875 and 85.7375 respectively.
