India, Dec. 17 -- The rupee traded with high volatility against the US dollar in early trade on Wednesday, as support from easing crude oil prices was countered by uncertainty surrounding the India–US trade deal and continued foreign fund outflows.
Forex traders noted that persistent selling by foreign portfolio investors (FPIs) across both equity and debt markets has been the primary factor weighing on the rupee in December, with the intensity of outflows increasing over the past two months.
Meanwhile, the downside was cushioned by soft Brent crude prices, which were hovering near multi-year lows of around USD 59 per barrel, providing support to the local currency at lower levels.
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