Rupee weakens against US dollar in early trade on Thursday
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Indian rupee weakened against the US dollar in early trade on Thursday, driven by weak equities amid foreign fund outflows from capital markets. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 319.23 crore, exchange data showed. Moreover, looming recession fears also dampened rupee sentiments.
The partially convertible currency is currently trading at 81.34, weaker by 4 paise from its previous close of 81.30 on Wednesday. The currency touched a high and low of 81.45 and 81.2725 respectively.
