Indian rupee weakened against the US dollar on Friday, tracking volatility in domestic equities and foreign fund outflows. Foreign Institutional Investors (FIIs) were net sellers as they offloaded shares worth Rs 719.88 crore in the capital market on Thursday, exchange data showed. Meanwhile, the RBI kept benchmark interest rate unchanged at 4 percent and decided to continue with its accommodative stance as long as necessary. Moreover, strong American currency also weighing on rupee sentiments.
The partially convertible currency is currently trading at 74.22, weaker by 5 paise from its previous close of 74.17 on Thursday. The currency touched a high and low of 74.2250 and 74.1000 respectively.
