Rupee weakens marginally against US dollar on Monday
Indian rupee weakened marginally against the US dollar on Monday, due to concerns surrounding the recent victory of Donald Trump in the U.S. elections and stronger US dollar. While, weak trend in domestic equities along with unabated foreign fund outflows also weighed on the local currency. Foreign institutional investors were net sellers in the capital markets on Friday, as they offloaded shares worth Rs 3,404.04 crore, exchange data showed. Rupee sentiments declined further on dip in crude oil price after concerns about supply disruption eased in the Gulf of Mexico.
The partially convertible currency is currently trading at 84.38, weaker by 1 paise from its previous close of 84.37 on Friday. The currency touched a high and low of 84.3875 and 84.3700 respectively.
