Rupee weakens against US dollar on Friday
Indian rupee weakened against the US dollar on Friday tracking persistent dollar demand from local importers. Moreover, muted trend in global markets and uncertainty over the path of US interest rates also dampened rupee sentiments. However, some losses were capped with RBI Governor Shaktikanta Das’ statement that the rupee has witnessed low volatility and orderly movements as compared to its peers. Foreign institutional investors were net buyers in the capital market on Thursday as they purchased shares worth Rs 255.53 crore, exchange data showed.
The partially convertible currency is currently trading at 83.36, weaker by 2 paise from its previous close of 83.34 on Thursday. The currency touched a high and low of 83.3675 and 83.33 respectively.
