Whalesbook
The Indian Rupee weakened by 8 paise to 88.68 against the US dollar due to selling pressure in equity markets and global trade uncertainties. Despite a weaker US dollar, lower crude oil prices, and some foreign capital inflows, the rupee faced pressure. Investors are concerned about rising import bills, a widening trade deficit, and are watching the proposed India-US trade deal progress and upcoming domestic PMI data.