Rupee drops 3 paise to 88.66 against US dollar in early trade

The Indian rupee faced depreciation against the US dollar on Friday, with foreign investors exiting the Indian capital markets. The domestic stock exchange experienced significant sell-offs. Concurrently, crude oil prices were on the rise in global markets. Notably, October saw a deceleration in growth within India's services sector, leading to the rupee's final settlement at 88.66 against the dollar.