India, May 15 -- The rupee weakened by 30 paise to 95.94 against the US dollar in early trade on Friday, extending losses for the fourth straight session amid elevated crude oil prices, a stronger dollar and rising concerns over the West Asia crisis.
Forex traders said the USDINR pair remained under pressure and hovered close to the 96 mark as persistent dollar buying and rising oil prices continued to weigh on the domestic currency.
Investor sentiment was also impacted after the summit between US President Donald Trump and Chinese President Xi Jinping failed to deliver any major breakthrough, particularly on the US-Iran issue.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....