Rupee strengthens against dollar on Thursday
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Indian rupee weakened against the US dollar on Friday, weighed down by muted equities and sustained foreign fund outflows from the capital market. Moreover, possibility of aggressive interest rate hikes in future also dented rupee sentiments. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,417.24 crore, exchange data showed.
The partially convertible currency is currently trading at 82.73, weaker by 9 paise from its previous close of 82.64 on Thursday. The currency touched a high and low of 82.7625 and 82.67 respectively.
