Rupee weakens against US dollar on Tuesday
The Indian rupee weakened against the US dollar on Tuesday amid weak domestic equity markets as investors stayed cautious ahead of the release of industrial and manufacturing production data for April as well as the first quarter GDP growth numbers, scheduled later this week. Moreover, a firm American currency also dampened rupee sentiments. However, receding crude oil prices and foreign fund inflows have limited further falls in rupee. Foreign institutional investors purchased equities worth Rs 135.98 crore on a net basis on Monday, exchange data showed.
The partially convertible currency is currently trading at 85.28, weaker by 18 paise from its previous close of 85.10 on Monday. The currency touched a high and low of 85.36 and 85.11 respectively.
