Rupee weakens marginally against US dollar on Thursday
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Indian rupee weakened marginally against the US dollar on Thursday even as equity market benchmarks were trading positive on weekly F&O expiry day. Moreover, strengthening American currency against major peers overseas and foreign capital outflows also kept investors cautious. Foreign Institutional Investors (FIIs) were remained net sellers in the capital market, offloading shares worth Rs 2,839.52 crore on Wednesday, exchange data showed. Rupee weakened further by strengthening US dollar after the US consumer price index rose to a multi-year high of 9.1 percent in June, that fuelled the speculation that the US Federal Reserve will raise interest rates aggressively to tame soaring prices.
The partially convertible currency is currently trading at 79.85, weaker by 4 paise from its previous close of 79.81 on Wednesday. The currency touched a high and low of 79.8600 and 79.7100 respectively.
