Indian rupee weakened against the US dollar on Wednesday on sustained foreign capital outflows as the greenback strengthened overseas. Besides, increased demand for the US currency from importers, and an escalating trade spat between the US and China also weighed on the rupee. On the global front, the dollar rose near an 11-month high against the Chinese yuan and the Australian dollar tumbled after the US said it would slap tariffs on an extra $200 billion of imports from China, sharply escalating tensions between the world's two biggest economies.
The partially convertible currency is currently trading at 68.85, weaker by 3 paise from its previous close of 68.82 on Tuesday. The currency touched a high and low of 68.8950 and 68.8050 respectively.
