Rupee little changed against US dollar on Friday
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Indian rupee little changed against the US dollar on Friday amid persistent foreign capital outflows and weakness in Asian currencies. Foreign Institutional Investors were net sellers in the capital markets as they offloaded shares worth Rs 1,862.57 crore on Thursday, exchange data showed. The Asian currencies weakened after latest US inflation data renewed chances about more Federal interest rate hikes. Meanwhile, positive domestic macroeconomic data strengthened investor sentiments. The data released on Thursday showed that India's retail inflation moderated to a three-month low of 5 per cent in September while factory output in August soared to a 14-month high of 10.4%.
The partially convertible currency is currently trading at 83.25, weaker by 1 paise from its previous close of 83.24 on Thursday. The currency touched a high and low of 83.2600 and 83.2300 respectively.
