Indian Rupee Weakens Against US Dollar, Ends at ₹90.99 — What It Means for Markets
The Indian rupee weakened modestly on Friday, declining by 8 paise to settle at ₹90.99 against the US dollar . This movement came amid external and domestic pressures including rising crude oil prices, foreign portfolio outflows, and a decline in equity markets. The Indian rupee ended lower at ₹90.99 per US dollar as market pressures weighed on the currency. What Drove the Rupee’s Decline Forex traders identified several key factors behind the rupee’s slip: Higher crude oil prices put pressure on India’s trade balance because India imports a significant portion of its energy needs. Foreign Institutional Investors (FII) selling of Indian equities reduced demand for the rupee, leading to increased demand for foreign currency. Domestic equity markets were weak , prompting investors to reduce risk exposure and move assets out of Indian markets. The combined effect was a slight depreciation of the rupee at the end of trading. Recent Currency Trends In the sessions le...