Rupee weakened against the US dollar on Monday due to sustained foreign fund outflows in the capital market. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Friday as they offloaded shares worth Rs 69.37 crore, as per exchange data. However, firm domestic equities following easing of Covid restrictions in many parts of the country capped the rupee's fall. On the global front, the US dollar hit a four-month high against the euro as traders positioned for an earlier tapering of Federal Reserve stimulus.
The partially convertible currency is currently trading at 74.22, weaker by 7 paise from its previous close of 74.15 on Friday. The currency touched a high and low of 74.25 and 74.21 respectively.
