Rupee slips to 88.65: All eyes on crude, US-India trade deal progress

The rupee depreciated 15 paise to 88.65 against the dollar in early trade on Wednesday, weighed down by elevated crude oil prices and foreign fund outflows. Forex traders said renewed optimism over the India-US trade deal supported the domestic unit at lower levels.

Rupee Open

At the interbank foreign exchange, the rupee opened at 88.61 against the US dollar before dropping to 88.65, down 15 paise from its previous close. On Tuesday, the rupee had settled at 88.50 against the US dollar. Forex traders said the MSCI Review may result in positive foreign fund inflows.