Indian rupee weakens against US dollar on Tuesday
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Indian rupee weakened against the US dollar on Tuesday, tracking muted trend in domestic equities with continued foreign fund outflows in the capital market. Further, firm American currency overseas and rising crude oil prices also weighed on rupee sentiments. Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 2,743.44 crore on Monday, exchange data showed. Also, rising retail inflation also impacted the rupee movement. On the domestic macro-economic front, government data showed retail inflation inched up to a three-month high of 4.91 per cent in November, mainly due to an uptick in food prices.
The partially convertible currency is currently trading at 75.91, weaker by 13 paise from its previous close of 75.78 on Monday. The currency touched a high and low of 75.9550 and 75.8950 respectively.
