Indian rupee weakened against the US dollar on Wednesday on account of dollar's strength against some currencies overseas. However, increased selling of the American currency by exporters and banks, and higher opening of the domestic equity markets capped the downward trending sentiment of the domestic unit. On the global front, the dollar rose across the board on Wednesday, climbing to a six-month high against the yen, after Federal Reserve Chairman Jerome Powell gave an upbeat outlook for the US economy and reinforced views that the Fed was on track to steadily hike interest rates.
The partially convertible currency is currently trading at 68.54, weaker by 8 paise from its previous close of 68.46 on Tuesday. The currency touched a high and low of 68.5450 and 68.3225 respectively.
