Rupee weakens marginally against US Dollar on Thursday
Indian rupee weakened marginally against the US Dollar on Thursday due to weak domestic equities and after the Reserve Bank of India kept the benchmark interest rates unchanged at 6.5%, while the Marginal Standing Facility (MSF) and Standard Deposit Facility (SDF) rates will remain unchanged at 6.75% and 6.25%, respectively. Moreover, continuous foreign fund outflows and weak trends in the United States and Asian markets have also dampened rupee sentiments. Foreign institutional investors net sold Indian shares worth Rs 3,314.76 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 83.96, weaker by 1 paise from its previous close of 83.95 on Wednesday. The currency touched a high and low of 83.9675 and 83.9325 respectively.
