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Indian Rupee Weak Past $79 a dollar, a plumbing record low in early trade, as investors pulled out of Indian stock markets on Friday, as the greenback held firm against major peers on prospects of US higher interest rates and fears of a broader recession.
By 0352 GMT, Partially Convertible Rupee After touching a record low of 79.10, it was trading at 79.08/09 per dollar. The unit had ended at 78.9675 on Thursday.
The dollar was little changed against major peers, but was on track for its best week in four as investors promoted tighter Federal Reserve policy and recession risks.
Oil prices rose in early trade after sinking in the previous session as OPEC+ said it would stick to its planned oil output hike in August and investors worried about the strength of the global economy.
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