Rupee slips 12 paise to close
The rupee slipped by 12 paise to close at 86.52 against the US dollar on Friday, mainly because Indian stock markets took a hit and oil prices kept climbing.
The currency bounced between 86.47 and 86.63 during the day but ended lower as the US dollar gained strength and foreign investors pulled money out.
What else is going on?
The US dollar got a boost from strong jobs data, while Brent crude oil prices ticked up again.
On the home front, Sensex dropped over 700 points and Nifty slid more than 200 points, with nearly ₹2,000 crore worth of stocks sold by foreign investors just today.
Plus, RBI shared that India's forex reserves fell by $1.18 billion this week—analysts blame global tensions and nerves around an upcoming trade deal deadline for all the market jitters.