The rupee weakened by 13 paise to close at 87.71 (provisional) against the US dollar on Friday, pressured by weak domestic equities and ongoing uncertainty over the India-US trade deal.
According to forex traders, the local currency traded in a narrow range amid persistent weakness in equities, while sustained foreign fund outflows also added pressure.
Market sentiment was further hit by US President Donald Trump’s recent move, set to take effect in 21 days, which would raise total duties on select Indian exports to as much as 50%, making them among the most heavily taxed imports in the US.