On Thursday,the rupee had settled 4 paise higher at 71.08 against the dollar.
The rupee on Friday weakened by 17 paise to close at 71.25 against the dollar as concerns related to fiscal slippage weighed on the sentiment after the interim budget unveiled some big measures ahead of the general elections, reported news agency Press Trust of India (PTI) report. Rising crude prices weighed on the local unit, while, heavy buying in domestic equities restricted the slide in the local unit to some extent, traders were quoted as saying in the PTI report. On Thursday,the rupee had settled 4 paise higher at 71.08 against the dollar.