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The rupee fell 3 paise to 88.66 against the US dollar in early trade on Friday as the American currency strengthened against key rivals and foreign investors continued to withdraw funds from the Indian capital market.
According to forex traders, the Indian rupee also came under pressure amid heavy selling in domestic equity markets and rise in crude oil prices in the overseas market.
At the interbank foreign exchange, the rupee opened at 88.61 and was trading at 88.66 against the greenback in early deals, showing a loss of 3 paise from its previous close.
The domestic unit had closed at 88.66 against the dollar with a gain of 7 paise on Thursday.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.08% to 99.66.
Global oil benchmark Brent crude was 0.39% higher but lower at $63.62 a barrel in futures trading.
“Crude oil prices fell on Thursday amid investor concerns over possible oversupply and signs of softening demand in the United States, a major global consumer of oil,” said Anand James, chief market strategist at Geojit Investments Ltd.
In the domestic equity market, Sensex fell 610.92 points or 0.73% to 82,700.09, while Nifty fell 169.50 points or 0.66% to 25,340.20 in early trade.
According to exchange data, foreign institutional investors sold equities worth ₹3,263.21 crore on Thursday.
India’s services sector growth slowed to the slowest in five months in October, as competitive pressures and heavy rains in parts of the country slowed output growth, according to a monthly survey released on Thursday.
The seasonally adjusted HSBC India Services PMI business activity index fell to 58.9 in October from 60.9 in September, indicating the slowest pace of expansion since May.
published – November 07, 2025 11:00 AM IST
