Rupee weakens against US dollar on Wednesday
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Indian rupee weakened against the US dollar on Wednesday, tracking weak domestic equities, elevated crude oil prices and increased demand of the American currency among importers and bankers. Meanwhile, investors are also focusing key inflation readings from the major economies this week for more signals about interest rate policy. However, some losses were limited by data showed Foreign Institutional Investors were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 65.57 crore.
The partially convertible currency is currently trading at 83.28, weaker by 10 paise from its previous close of 83.18 on Tuesday. The currency touched a high and low of 83.2850 and 83.22 respectively.
