Rupee weakens against US dollar on Thursday
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Indian rupee weakened marginally against the US dollar on Thursday following weakness in domestic equities after the Reserve Bank of India has decided to keep policy rate unchanged for the sixth time in a row. Foreign Institutional Investors were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 1,691.02 crore, exchange data showed. Rupee sentiments weakened further as comments from US Federal Reserve officials reaffirmed expectations that the Federal Reserve may not cut interest rates soon. Although, a softer American currency overseas limited further falls in rupee value.
The partially convertible currency is currently trading at 82.97, weaker by 1 paise from its previous close of 82.96 on Wednesday. The currency touched a high and low of 82.9925 and 82.8925 respectively.
