Rupee weakens against US dollar on Friday
The partially convertible currency is currently trading at 89.47, weaker by 11 paise from its previous close of 89.36 on Thursday
The Indian rupee weakened against the US dollar on Friday, weighed down by the withdrawal of foreign funds and caution ahead of the GDP growth numbers for the July-September period to be announced later in the day. Foreign institutional investors sold equities worth Rs 1,255.20 crore on a net basis on Thursday, exchange data showed. Although, investors were closely watching expectations of interest rate cuts from both the US Federal Reserve and the Reserve Bank of India, which boosted investor confidence and market activity.
The partially convertible currency is currently trading at 89.47, weaker by 11 paise from its previous close of 89.36 on Thursday. The currency touched a high and low of 89.48 and 89.41 respectively.
