Rupee weakens against US dollar on Monday
Indian rupee weakened against the US dollar in early trade on Monday, tracking firm American currency in the international market and ahead of domestic and US inflation data with the US Fed's policy decision on Wednesday. However, some losses were limited by firm domestic equities and foreign fund inflows into the capital market. Foreign Institutional Investors were net buyers in the capital markets on Friday, as they purchased shares worth Rs 4,391.02 crore, exchange data showed. India's forex reserves jumped $4.837 billion to a new all-time high of $651.51 billion for the week ended May 31, RBI said.
The partially convertible currency is currently trading at 83.49, weaker by 9 paise from its previous close of 83.40 on Friday. The currency touched a high and low of 83.5075 and 83.48 respectively.
