Rupee weakens against US dollar on Monday
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Indian rupee weakened against the US dollar on Monday tracking weak trend in domestic equities. Moreover, sustained foreign fund outflows also weighed on rupee sentiments. Foreign institutional investors were net sellers in the capital market on November 12, as they offloaded shares worth Rs 190.06 crore, exchange data showed. Meanwhile, investors are cautiously awaiting US inflation data later in the week for additional clues about the outlook for interest rates. However, a drop in crude oil prices limited further falls in rupee.
The partially convertible currency is currently trading at 83.32, weaker by 4 paise from its previous close of 83.28 on Friday. The currency touched a high and low of 83.33 and 83.2850 respectively.
