Indian rupee weakened against the US dollar on Thursday, tracking subdued sentiment in the domestic equities. Rupee sentiments fell further on strong American currency overseas after minutes of the Federal Reserve's June policy meeting confirmed the Fed is moving toward tapering its asset purchases as soon as this year. Although, lower crude prices and fresh foreign fund inflows limited the rupee’s fall. Foreign Institutional Investors (FIIs) emerged as net buyers in the capital market as they bought shares worth Rs 532.94 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 74.70, weaker by 8 paise from its previous close of 74.62 on Wednesday. The currency touched a high and low of 74.80 and 74.6550 respectively.
