Overview
- The currency opened at 88.61 and weakened to 88.66 against the US dollar in early Mumbai trade on Friday.
- A firmer greenback pushed the dollar index to 99.66, pressuring the Indian unit.
- Foreign investors extended outflows with Rs 3,263.21 crore of equity sales on Thursday, according to exchange data.
- Domestic risk sentiment softened as the Sensex fell about 611 points and the Nifty dropped roughly 170 points in early deals.
- The rupee had strengthened the previous session to a provisional 88.60 as the dollar eased and oil hovered near $64, with gains restrained by earlier FII selling and a softer October services PMI of 58.9.