MUMBAI: The Indian rupee weakened for the fifth consecutive session on Friday, tracking losses in global markets following reports that trade talks would go into a second day even after new US tariffs on Chinese goods were likely to take effect around midnight in New York. The US is set to increase tariffs on $200 billion of Chinese goods to 25% from 10%. At 9.15am, the rupee traded at 69.99 a dollar, down 0.07% from its previous close of 69.95. During the period, foreign investors bought $10.17 billion in equity and sold $833.2 million in the debt market. The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.375, down 0.01% from its previous close of 97.373.

Source: Mint May 10, 2019 03:56 UTC