Rupee weakens against US dollar on Thursday
Indian rupee weakened against the US dollar on Thursday as the American currency strengthened marginally against its major peers overseas. Meanwhile dollar demand from importers, persistent foreign fund outflows by foreign investors, and uncertainty around trade policies on new US President Donald Trump have also weighed on domestic currency. Foreign Institutional Investors remained net sellers in the capital markets on Wednesday, offloading shares worth Rs 4,026.25 crore, exchange data showed. However, drop in crude oil rates and firm domestic equities have limited further falls in rupee.
The partially convertible currency is currently trading at 86.42, weaker by 7 paise from its previous close of 86.35 on Wednesday. The currency touched a high and low of 86.5225 and 86.3825 respectively.
