Rupee weakens against US dollar on Wednesday
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Indian Rupee weakened against the US dollar on Wednesday amid subdued domestic equities ahead of inflation numbers of India as well as the United States due this week. Moreover, foreign fund inflows and rising crude oil prices also weighed on rupee sentiments. Foreign institutional investors sold shares worth Rs 990.90 crore on Tuesday, exchange data showed. Although, some losses were capped by weak American currency at overseas markets.
The partially convertible currency is currently trading at 83.17, weaker by 4 paise from its previous close of 83.13 on Tuesday. The currency touched a high and low of 83.1875 and 83.1350 respectively.
