Rupee weakens against US dollar in early trade on Wednesday
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Indian rupee weakened against the US dollar in early trade on Wednesday tracking volatility in domestic equities. Moreover, the strength of the American currency in the overseas market and a rising oil price also weighed on the local currency. Meanwhile investors were cautiously awaiting crucial US economic reports to gauge the Federal Reserve's interest rate trajectory. However, some fall was limited by foreign fund inflows with data showed that Foreign Institutional Investors purchased shares worth Rs 1,175.91 crore on Tuesday.
The partially convertible currency is currently trading at 83.49, weaker by 6 paise from its previous close of 83.43 on Tuesday. The currency touched a high and low of 83.4975 and 83.43 respectively
