Rupee weakens against US dollar on Thursday
Indian rupee weakened against the US dollar on Thursday amidst weak trend in domestic equities, even though the Reserve Bank of India is expected to maintain the status quo on the interest rate in its bi-monthly monetary policy decision to be announced on Friday. Foreign Institutional Investors were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 79.88 crore, exchange data showed. Firm American currency against its major peers also weighed on rupee sentiments.
The partially convertible currency is currently trading at 83.36, weaker by 4 paise from its previous close of 83.32 on Wednesday. The currency touched a high and low of 83.37 and 83.35 respectively.
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Rupee weakens against US dollar on Friday