The Indian rupee weakened for a second straight session on Friday as surging oil prices spurred risk aversion, erasing gains made earlier in the week and leaving the currency little changed, despite easing expectations of further US rate hikes.
The rupee opened the session marginally higher at 94.79 against the US dollar, but turned lower in early trades to hit a low of 94.9725. The currency ended 0.1% lower for the day at 94.9400, after depreciating by 0.4% on Thursday. It was little changed for the week, after rising 1.4% last week.
