Indian rupee weakened against US dollar on Wednesday weighed down by a bearish domestic stock markets and as the American currency got firmer, even as foreign fund inflows into Indian equity market supported the rupee to some extent. As per data, Foreign Institutional Investors emerged as net buyers in the capital market as they bought shares worth Rs 1,692.31 crore on Tuesday. On the global front, the greenback gained against its major peers as investors awaited US Federal Reserve's policy meeting for indications it could start rate hikes earlier or let bond yields rise further.
The partially convertible currency is currently trading at 72.5800, weaker by 3 paise from its previous close of 72.5525 on Tuesday. The currency touched a high and low of 72.6200 and 72.5100 respectively. The reference rate for the dollar stood at 72.70, and for Euro stood 86.75 on March 15, 2021. While the reference rate for the Yen stood at 66.53, the reference rate for the Great Britain Pound (GBP) stood at 101.12.
