The Indian rupee slipped 6 paise to 87.18 against the US dollar in early trade on Friday, as concerns over global trade uncertainties and continuous outflow of foreign funds from Indian equities weighed on market sentiment.
Despite these challenges, the rupee managed to avoid a steep decline, thanks to a weaker US dollar index and lower crude oil prices, according to forex traders.
Opening at 87.13, the rupee further weakened to 87.18 against the greenback in early trading, marking a 6 paise depreciation from its previous close.
On Thursday, the rupee ended 6 paise lower at 87.12 against the US dollar, breaking a three-day winning streak during which it had gained 31 paise.
The dollar index, which measures the dollar’s performance against a basket of major currencies, was down by 0.04 percent at 103.99.
Brent crude, the global benchmark for oil prices, inched up by 0.20 percent but remained near six-month lows at $69.60 per barrel in futures trading.
In the domestic market, the BSE Sensex was trading 116.64 points lower at 74,223.45, while the Nifty was down 19.30 points at 22,525.40.
Foreign investors sold off equities worth ₹2,377.32 crore on a net basis on Thursday, as per exchange data.
Traders are closely monitoring US Federal Reserve chief Jerome Powell’s remarks and the central bank’s balance sheet release expected on Friday.
Additionally, President Donald Trump announced a one-month delay on imposing 25 percent tariffs on most goods from Mexico, following talks with the Mexican president. Commerce Secretary Howard Lutnick also hinted at a possible delay in tariffs on Canada and Mexico.
