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Rupee weakens against US dollar in early trade on Friday

24 Apr 2026 Evaluate
The Indian rupee weakened against the US dollar in early trade on Friday, driven by surging Brent crude oil prices, fears of renewed military escalation in the Middle East, and heavy foreign fund outflows. Foreign Institutional Investors (FIIs) offloaded equities worth about 3,254.71 crore on Thursday, exchange data showed. Meanwhile, strong American currency exerted additional pressure on the rupee. However, the Reserve Bank of India (RBI) has been actively selling dollars to limit volatility, aiming to slow the rupee's decline rather than defend a fixed level.

The partially convertible currency is currently trading at 94.29, weaker by 28 paise from its previous close of 94.01 on Thursday. The currency touched a high and low of 94.3075 and 94.2375 respectively.

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