Rupee weakens to 90.11 against USD due to oil prices, outflows, and awaits Fed policy and trade talks.
Summary
The Indian rupee weakened by 16 paise to 90.11 against the US dollar in early trading. This depreciation was driven by rising crude oil prices, consistent foreign fund outflows, and strong dollar demand from corporates and importers. Investors are closely watching the upcoming Fed policy outcome and India-US trade talks.
Key Points
- Rupee depreciated by 16 paise.
- Exchange rate reached 90.11 against the US dollar.
- Influenced by elevated crude oil prices and foreign fund outflows.
- Strong dollar demand from corporates and importers also pressured the rupee.
- Investors await Fed policy outcome and India-US trade talks.
Full Article
The rupee depreciated 16 paise to 90.11 against the US dollar in early trade, influenced by elevated crude oil prices and consistent foreign fund outflows. Strong dollar demand from corporates and importers also pressured the rupee. Investors are now awaiting the Fed's policy outcome and upcoming trade talks between India and the US.