Indian rupee weakens as FII outflows pressure currency markets. The rupee declined 4 paise to 90.95 against the US dollar in early Friday trade, driven by foreign institutional investor selling and weakness in domestic equity markets. Sensex dropped 364.62 points while Nifty fell 117.15 points in morning session. FIIs offloaded equities worth Rs 3,465.99 crore on Thursday. However, a weaker dollar index trading 0.09 percent lower at 97.70 and declining crude oil prices at USD 70.70 per barrel limited sharper rupee depreciation. Analysts note the rupee has underperformed compared to other Asian currencies despite dollar weakness, suggesting structural challenges in currency valuation amid volatile capital flows and equity market pressures.
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