Rupee weakens against US dollar on Tuesday
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Indian rupee weakened against the US dollar on Tuesday driven by firm American currency and a surge in US treasury yields ahead of US inflation numbers this week, while foreign fund outflows has also dented rupee sentiment. Foreign Institutional Investors were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 2,000.12 crore, exchange data showed. However, some falls were limited by falling crude oil prices and expectations of continued RBI intervention.
The partially convertible currency is currently trading at 83.97, weaker by 2 paise from its previous close of 83.95 on Monday. The currency touched a high and low of 83.98 and 83.95 respectively.
