Indian rupee weakens against US dollar on Monday
Indian rupee weakened against the US dollar on Monday, tracking volatility in domestic equity markets following unabated foreign fund outflows and as a new coronavirus variant first detected in South Africa appeared to be spreading across the globe. Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 5,785.83 crore on Friday, exchange data showed. Gain in crude oil prices and firm American currency overseas also weighed on rupee sentiments.
The partially convertible currency is currently trading at 74.99, weaker by 10 paise from its previous close of 74.89 on Friday. The currency touched a high and low of 75.0400 and 74.8200 respectively.
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Rupee strengthens against US dollar on Friday