Rupee weakens marginally against US dollar on Friday
Indian rupee weakened marginally against the US dollar on Friday amid firm crude oil prices in the Asian trade. Moreover, expectations of higher interest rate hikes in the US and a faltering economic recovery in China also kept pressure on the Indian rupee. But, gains in the domestic equities following fresh foreign fund inflows supporting rupee. Foreign Institutional Investors (FIIs) emerged as net buyers in the capital market on Wednesday as they bought shares worth Rs 12,350 crore, exchange data showed. Forex markets were closed yesterday on the occasion of Bakrid holiday.
The partially convertible currency is currently trading at 82.04, weaker by 1 paise from its previous close of 82.03 on Wednesday. The currency touched a high and low of 82.07 and 82.0150 respectively.
