Rupee weakens against US dollar on Monday
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Indian rupee weakened against the US dollar on Monday amid firm American currency at overseas market, while geopolitical tensions in Middle East and sustained foreign fund outflows from capital markets also weighed on rupee sentiments. Foreign Institutional Investors were net sellers in the capital markets as they sold shares worth Rs 1,500.13 crore on Friday, exchange data showed. Meanwhile, India's forex reserves fell by $2.36 billion to $583.53 billion during the last week, the Reserve Bank of India data showed.
The partially convertible currency is currently trading at 83.26, weaker by 1 paisa from its previous close of 83.25 on Friday. The currency touched a high and low of 83.2650 and 83.2450 respectively
