Rupee weakens against US dollar on Thursday
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Indian rupee weakened against the US dollar on Thursday weighed by sluggish domestic equities and firm American currency at overseas markets after the latest Federal Open Market Committee minutes revealed a significant shift in the Federal Reserve's outlook. Meanwhile concerns over geopolitical developments and US policy shifts also sparked caution among investors. However, RBI interventions and foreign fund inflows have limited further weakness in the domestic currency. Foreign Institutional Investors (FIIs) bought shares worth Rs 7.78 crore in the capital markets on a net basis on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 84.47, weaker by 7 paise from its previous close of 84.40 on Wednesday. The currency touched a high and low of 84.4775 and 84.45 respectively.
