Mumbai: The Indian rupee declined against the US dollar in early trade on Friday. As per forex traders, trade-related uncertainties and relentless outflow of foreign capital from domestic equities weighed upon the Indian currency. However, weakening American currency index and lower level of crude oil prices helped the Indian currency prevent a sharp fall.
At the interbank foreign exchange, the rupee opened at 87.13 and lost further to trade at 87.18 against the US dollar in early deals, registering a depreciation of 6 paise from its previous closing level.Snapping its three-day rally, the rupee settled 6 paise lower at 87.12 against the US dollar on Thursday. It had gained 31 paise in the preceding three consecutive sessions.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was trading lower by 0.04 per cent at 103.99. Foreign institutional investors (FIIs) offloaded Indian equities worth Rs 2,377.32 crore on net basis on Thursday, according to exchange data.
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