Rupee weakens against US dollar on Thursday
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Indian rupee weakened against the US dollar on Thursday, tracking the strength of the American currency at overseas markets, while foreign fund outflows and elevated crude oil prices overseas also dented rupee sentiments. Foreign Institutional Investors were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 4,595.06 crore, exchange data showed. Meanwhile, investors are cautiously awaiting clues on US interest rates from producer inflation and retail sales data due later in the day.
The partially convertible currency is currently trading at 82.86, weaker by 5 paise from its previous close of 82.81 on Wednesday. The currency touched a high and low of 82.8925 and 82.8250 respectively.
