Rupee weakens against US dollar on Thursday
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Indian rupee weakened against the US dollar on Thursday tracking firm American currency at overseas markets. However, some falls were capped with growing expectations that the US Federal Reserve to cut interest rates by next year. Meanwhile, India's annual retail inflation eased to four-month low of 4.87% in October from 5.02% in September 2023, data showed on Monday. Foreign Institutional Investors emerged as net buyers in the capital market on Wednesday as they bought shares worth Rs 550.19 crore, exchange data showed.
The partially convertible currency is currently trading at 83.23, weaker by 14 paise from its previous close of 83.09 on Wednesday. The currency touched a high and low of 83.24 and 83.1750 respectively.
Indian rupee weakened against the US dollar on Thursday tracking firm American currency at overseas markets. However, some falls were capped with growing expectations that the US Federal Reserve to cut interest rates by next year. Meanwhile, India's annual retail inflation eased to four-month low of 4.87% in October from 5.02% in September 2023, data showed on Monday. Foreign Institutional Investors emerged as net buyers in the capital market on Wednesday as they bought shares worth Rs 550.19 crore, exchange data showed.
The partially convertible currency is currently trading at 83.23, weaker by 14 paise from its previous close of 83.09 on Wednesday. The currency touched a high and low of 83.24 and 83.1750 respectively.
