Indian rupee weakened against the U.S. dollar on Friday as Brent crude continued to trade above the $100 per barrel mark. Rupee was also weighed down by the persistent foreign fund outflows. The foreign institutional investors were the net sellers on Thursday’s session, offloading securities worth Rs 7,558.19 crore. Besides, investors maintained a cautious stance as West Asia conflict raised concerns over high inflation and growth outlook of global economy. Meanwhile, to maintain uninterrupted cargo movement and minimal disruption to supply chains, Minister for Ports, Shipping and Waterways Sarbananda Sonowal said that India has taken swift and coordinated measures to safeguard the country's maritime trade amid the evolving situation in West Asia. On the global front, the euro has weakened against the U.S. dollar on Friday as investors flocked to the US dollar amid deepening inflation fears tied to the high energy prices due to the West Asia conflict.
Finally, the rupee ended at 93.56 (Provisional), weakened by 67 paise from its previous close of 92.89 on Wednesday. The currency touched a high and low of 93.75 and 92.88 respectively.
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