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Indian rupee weakened against the US dollar on Wednesday due to strong American currency against major crosses overseas ahead of the key US Federal Reserve’s policy decision later in the day. Moreover, volatility in domestic equities also weighed on rupee sentiments. However, Foreign Institutional Investors were net buyers in the capital markets on Tuesday as they bought shares worth Rs 1,421.48 crore, exchange data showed.

The partially convertible currency is currently trading at 83.10, weaker by 7 paise from its previous close of 83.03 on Tuesday. The currency touched a high and low of 83.1125 and 83.0050 respectively.