14/06/2023 10:57:30 AM | Source: Accord Fintech
Rupee weakens against US dollar on Wednesday
Indian rupee weakened against the US dollar on Wednesday amid muted trend in domestic equities ahead of cues from the US Federal Reserves’ interest rate decision later in the day. Moreover, foreign fund inflows into capital markets, subdued US dollar index and expectations of rate hike pause by the US Federal Reserve also adding support to rupee sentiments. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday as they purchased shares worth Rs 1,677.60 crore, exchange data showed.
The partially convertible currency is currently trading at 82.29, weaker by 4 paise from its previous close of 82.25 on Tuesday. The currency touched a high and low of 82.31 and 82.2675 respectively.
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