INR settles lower amid negative cues from local equities

The Indian rupee pared initial gains and settled 7 paise lower at 86.71 (provisional) against the US dollar on Friday, weighed down by sustained foreign fund outflows and negative cues from local equities. Indian shares closed lower on Friday, with auto and healthcare stocks suffering heavy losses due to concerns over U.S. President Donald Trump's tariff threats and continued foreign selling. The benchmark 30-share BSE Sensex fell 424.90 points, or 0.56 percent, to 75,311.06 while the broader NSE Nifty index closed at 22,795.90, down 117.25 points, or 0.51 percent, from its previous close. At the interbank foreign exchange, the rupee opened on a positive note at 86.50 against the greenback. During the session it pared the gains and fell to an intra-day low of 86.77 before ending the session at 86.71 (provisional) against the dollar, logging a loss of 7 paise from its previous close.

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