Rupee falls 7 paise to 89.97 against US dollar in early trade

MUMBAI: (Jan 9) The rupee fell 7 paise to 89.97 against the US dollar in early trade on Friday amid sustained FII outflows and a rise in global crude oil prices.

The apprehension of further tariffs by the US and weak sentiments at the domestic equity markets fuelled selling of equities by foreign investors, putting more pressure on the local unit, forex traders said.

At the interbank foreign exchange, the rupee opened at 88.88 against the US dollar before slipping to 89.97, down 7 paise from its previous close.