India, Nov. 18 -- The rupee opened weaker on Tuesday, dropping 8 paise to 88.67 against the US dollar as domestic equities came under selling pressure amid global trade-related uncertainties.
According to forex analysts, a softer US dollar, easing crude oil prices, and moderate foreign inflows were not enough to support the Indian currency. Market participants remain cautious about India's rising import bill and widening trade deficit.
Traders are also closely tracking developments on the proposed India–US trade deal and awaiting the release of key domestic PMI data later this week.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....