Rupee weakens marginally against US dollar on Wednesday
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Indian rupee weakened marginally against the US dollar on Wednesday, despite weakness in American currency and foreign inflows into capital market. Foreign Institutional Investors were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 3,664.67 crore, exchange data showed. Meanwhile a rise in crude in international markets, Donald Trump's rhetoric on BRICS currency, political instability in the Eurozone have kept rupee under pressure. Investors are focusing on key events, including US Federal Reserve Chair Jerome Powell’s upcoming speech and the Reserve Bank of India’s monetary policy meeting, which begins today.
The partially convertible currency is currently trading at 84.69, weaker by 1 paise from its previous close of 84.68 on Tuesday. The currency touched a high and low of 84.7075 and 84.65 respectively.
