The Indian rupee slipped 13 paise to close at 74.42 (provisional) against the US currency on Friday, tracking muted domestic equities and unabated foreign fund outflows.
At the interbank foreign exchange market, the local unit witnessed high volatility, report agencies.
Snapping its two-day gaining streak, the local unit finally ended the day at 74.42, down 13 paise over its last close.
On Thursday, the rupee had settled at 74.29 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading unchanged at 91.86.
“Indian rupee erased Thursday’s gains and clocked weekly declines after three consecutive weekly gains following risk-off sentiments and fund outflows,” said Dilip Parmar, Research Analyst, HDFC Securities.
Market participants are awaiting fiscal deficit and eight core-infra numbers data ahead of next weeks’ RBI policy meet for further cues.
On the domestic equity market front, the BSE Sensex ended 66.23 points or 0.13 per cent lower at 52,586.84, while the broader NSE Nifty declined 15.40 points or 0.1 per cent to 15,763.05.