Rupee weakens against US dollar on Tuesday
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Indian rupee weakened against the US dollar on Tuesday, tracking a firm American currency against major overseas peers, while weak domestic equities and foreign fund outflows have also weighed on rupee sentiments. Foreign institutional investors were net sellers in the capital markets on Monday as they offloaded shares worth Rs 564.06 crore, exchange data showed. Meanwhile, investors are cautiously awaiting Federal Reserve Chair Jerome Powell's congressional testimony and key jobs data for further cues on the US Fed's interest rate trajectory. Although a downward trend in the crude oil prices limited further falls in rupee value.
The partially convertible currency is currently trading at 82.92, weaker by 2 paise from its previous close of 82.90 on Monday. The currency touched a high and low of 82.93 and 82.90 respectively.
