Rupee weakens against US dollar on Monday
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Indian rupee weakened against the US dollar on Monday tracking weak domestic equities and rising crude oil prices, while investors are awaiting comments from Federal Reserve Chair Jerome Powell for interest rate cut clues and domestic manufacturing PMI (Purchasing Manager's Index) numbers to be released this week. Moreover, foreign funds outflows in the market also weighed on rupee sentiments. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth Rs 1,209.10 crore, exchange data showed.
The partially convertible currency is currently trading at 83.78, weaker by 9 paise from its previous close of 83.69 on Friday. The currency touched a high and low of 83.81 and 83.72 respectively.
