2024-10-18 12:30:19 pm | Source: Accord Fintech
Rupee weakens marginally against US dollar on Friday
Indian rupee weakened marginally against the US dollar on Friday amid unabated outflow of foreign funds from Indian capital markets in lieu of the China stimulus, while weakening American currency and higher crude oil prices have also weighed on rupee sentiments. Foreign institutional investors were net sellers in the capital markets on Thursday, as they offloaded shares worth Rs 7,421.40 crore, exchange data showed. However, frequent interventions by the Reserve Bank of India helped prevent sharp declines in rupee.
The partially convertible currency is currently trading at 84.07, weaker by 1 paise from its previous close of 84.06 on Thursday. The currency touched a high and low of 84.0775 and 84.0650 respectively.
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