Rupee weakens marginally against US dollar on Monday
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Indian rupee weakened marginally against the US dollar on Monday as Friday’s strong US jobs report pushed back expectations around the timing of the first rate cut by the US Federal Reserve. Meanwhile, participants are cautiously awaiting macroeconomic data from the domestic as well as global markets for further cues. However, positive domestic equities, fresh foreign fund inflows and weakness in crude oil prices on easing tensions in the Middle East have limited further falls in rupee. Foreign Institutional Investors were net buyers in the capital markets on Friday as they purchased shares worth Rs 1,659.27 crore, exchange data showed.
The partially convertible currency is currently trading at 83.3275, weaker by 1 paise from its previous close of 83.3175 on Friday. The currency touched a high and low of 83.3350 and 83.23 respectively.
