Rupee weakens against US dollar on Friday
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Indian rupee weakened against the US dollar on Friday amid outflow of foreign funds from capital markets, with data showed that Foreign Institutional Investors were net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,410.05 crore. Moreover, volatility of crude oil prices in overseas market and delay in US Fed’s interest rate cuts also dampened rupee sentiments. However, a weaker American currency at overseas market limited rupee’s fall.
The partially convertible currency is currently trading at 82.89, weaker by 4 paise from its previous close of 82.85 on Thursday. The currency touched a high and low of 82.90 and 82.8450 respectively.
