Rupee declines 10 paise to 95.55 against US dollar in early trade
A marginally weaker greenback and a fall in global crude oil prices to levels below $90/barrel prevented a sharper decline in the local unit
The rupee experienced a decline of 10 paise, settling at 95.55 against the US dollar in early trade on Friday, as per a report by Hindu BusinessLine. This downward movement was attributed to Foreign Institutional Investor (FII) outflows and ongoing disruptions in global crude oil supplies. Despite a marginally weaker greenback and a fall in global crude oil prices below USD 90/barrel, the decline was not as sharp as initially anticipated, according to forex traders.
Brief written by urgent.news from Hindu BusinessLine's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
