15-09-2023 12:10 PM | Source: Accord Fintech
Rupee weakens against US dollar on Friday
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Indian rupee weakened against the US dollar on Friday tracking surging crude oil prices overseas. Meanwhile, the American currency jumped overnight after US retail sales increased 0.6 percent in August against an estimated 0.2 percent rise. However, intervention by the Reserve Bank of India, firm domestic equities and foreign fund inflows have limited further weakness in rupee. Foreign Institutional Investors were net buyers in the capital market as they bought shares worth Rs 294.69 crore on Thursday.
The partially convertible currency is currently trading at 83.05, weaker by 2 paise from its previous close of 83.03 on Thursday. The currency touched a high and low of 83.0775 and 83.0275 respectively.
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