26-10-2023 12:22 PM | Source: Accord Fintech
Rupee weakens against US dollar on Thursday
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Indian rupee weakened against the US dollar on Thursday amidst weak domestic equities following massive selling by foreign investors and in line with rising fears of more interest rate hikes by the central banks. Foreign Institutional Investors sold equities worth Rs 4,236.60 crore on Wednesday, exchange data showed. Moreover, strengthening American currency, a record rise in US Treasury yields, rising crude oil prices and geopolitical tensions in Middle East also dampened rupee sentiments.
The partially convertible currency is currently trading at 83.24, weaker by 7 paise from its previous close of 83.17 on Wednesday. The currency touched a high and low of 83.2475 and 83.1925 respectively.
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