Rupee weakens against US dollar on Wednesday
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Indian rupee weakened against the US dollar on Wednesday amidst muted domestic equity markets and as investors are awaited US Personal Consumption Expenditure (PCE) inflation for clues on the future path of Federal Reserve policy rates. However, a decline in the dollar index and foreign fund inflows have limited further losses in the domestic currency. Foreign Institutional Investors were net buyers in the capital markets on Tuesday, purchasing shares worth Rs 1,157.70 crore, exchange data showed.
The partially convertible currency is currently trading at 84.45, weaker by 16 paise from its previous close of 84.29 on Tuesday. The currency touched a high and low of 84.45 and 84.38 respectively.
