Rupee weakens against US dollar in early trade on Thursday
The Indian rupee weakened against the US dollar in early trade on Thursday, weighed down by a strengthening American currency overseas after the latest US inflation and employment figures raised the odds of a December rate hike by the Fed. However, falling crude oil prices following reports that US Vice President JD Vance plans to hold direct talks with an Iranian representative to end the war in West Asia, alongside foreign fund inflows have capped further declines in the domestic currency. Foreign institutional investors (FIIs) bought equities worth Rs 12,563.33 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 93.73, weaker by 2 paise from its previous close of 93.71 on Wednesday. The currency touched a high and low of 93.7775 and 93.62 respectively.
