Rupee weakens marginally against US dollar on Friday
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Indian rupee weakened marginally against US dollar on Friday tracking weak domestic equities following sustained foreign fund outflows in the capital market. Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 4,679.84 crore on Thursday, exchange data showed. Meanwhile investors are now awaiting the Federal Reserve’s next policy decision with hoping that the Fed might aggressively move to raise interest rates this year. However, weakness in American currency and easing crude oil prices capped weakness in the domestic unit.
The partially convertible currency is currently trading at 74.52, weaker by 1 paise from its previous close of 74.51 on Thursday. The currency touched a high and low of 74.5575 and 74.4800 respectively.
