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Indian rupee weakened against the US dollar on Tuesday as weak domestic equities, strong American currency overseas and sustained foreign fund outflows weighed on rupee sentiments. Foreign Institutional Investors were net sellers in the capital markets on Friday, as they offloaded shares worth Rs 1,685.70 crore, exchange data showed. Data showed India’s foreign exchange reserves fell by $2.335 billion to $590.702 billion for the week ended September 22, RBI said. Meanwhile investors are awaiting upcoming monetary policy decisions on October 6. The domestic forex market was closed on Monday on account of Gandhi Jayanti.

The partially convertible currency is currently trading at 83.17, weaker by 11 paise from its previous close of 83.06 on Friday. The currency touched a high and low of 83.23 and 83.17 respectively.