Indian rupee weakened against the US dollar on Tuesday, tracking firm American currency at overseas markets. On the global front, the US dollar was strengthening against its major peers as strong US job data fuelled expectations that the US Federal Reserve would soon start tapering its massive coronavirus-driven stimulus. Firm domestic equities following foreign fund inflows into the capital markets, however, limited weakness in the domestic currency. Foreign Institutional Investors (FIIs) were net buyers as they purchased shares worth Rs 211.91 crore in the capital market on Monday, exchange data showed.
The partially convertible currency is currently trading at 74.37, weaker by 11 paise from its previous close of 74.26 on Monday. The currency touched a high and low of 74.4675 and 74.35 respectively.
