The rupee weakened by 17 paise to trade at 71.33 against the US dollar in opening session Friday following sustained demand for the greenback from importers amid foreign fund outflow and rising global crude prices.
The dollar's gain against major world currencies also impacted the rupee sentiment, forex dealers said.
At the forex market, the rupee opened weak at 71.22 and slipped further to quote 17 paise down at 71.33 against the US dollar.
Brent crude futures, the global benchmark, climbed to USD 65.04 per barrel by rising 0.63 per cent.
Strengthening US dollar and persistent outflow from the domestic capital market weighed on the domestic currency.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 250.23 crore Thursday, provisional data showed.
On Thursday, the rupee had depreciated by 36 paise to close at 71.16 per US dollar.
Meanwhile, the benchmark BSE Sensex fell 34.73 points, or 0.13 per cent, to 35,841.49 in early trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app