Rupee weakens against US dollar on Tuesday
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Indian rupee weakened against the US dollar on Tuesday tracking muted domestic equities and rising crude oil prices, even as S&P Global Ratings maintained India's growth forecast at 6.8% and expected the Reserve Bank of India (RBI) might cut interest rates in October. However, some falls were limited by foreign fund inflows into Indian capital markets. Foreign Institutional Investors were net buyers in the capital markets on Monday, as they purchased shares worth Rs 404.42 crore, exchange data showed.
The partially convertible currency is currently trading at 83.62, weaker by 8 paisa from its previous close of 83.54 on Monday. The currency touched a high and low of 83.6275 and 83.54 respectively.
