Rupee tumbles 27 paise against US dollar as crude prices hold firm above $108 per barrel

The Indian Rupee weakened against the US dollar on Friday, extending its previous day’s losses. High crude oil prices and foreign portfolio outflows continued to exert downward pressure. Supportive factors like forex reserves and RBI intervention were insufficient against these headwinds. Investors now await US and Indian inflation data for market direction. Domestic stock markets also experienced declines as foreign investors sold shares.