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Published on 6/01/2023 12:55:14 PM | Source: Accord Fintech

Rupee weakens against US dollar on Friday

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Indian rupee weakened against the US dollar on Friday as strong jobs data from the United States heightened the prospect that the US Federal Reserve could keep up the pace of aggressive rate hikes. The ADP private payrolls report showed that US economy added 2,35,000 jobs in December, against expected 1,50,000. Besides, sustained foreign fund outflows and a firm dollar in overseas market, also dampened rupee sentiments. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,449.45 crore, exchange data showed. 

The partially convertible currency is currently trading at 82.66, weaker by 4 paise from its previous close of 82.62 on Thursday. The currency touched a high and low of 82.67 and 82.47 respectively.