Indian rupee weakened against the US dollar on Friday, tracking weak domestic equities and foreign fund outflows. Foreign Institutional Investors (FIIs) sold shares worth Rs 595.32 crore, while Domestic Institutional Investors (DIIs, were also net sellers to the tune of Rs 729.49 crore in the Indian equity market on Wednesday, exchange data showed. The forex market was closed on Thursday on account of 'Muharram'. On the global front, the US dollar hovered near a 9-1/2-month high against its major peers following fears over delay in global economic recovery due to increasing cases of corona-virus Delta variant globally.
The partially convertible currency is currently trading at 74.43, weaker by 19 paise from its previous close of 74.24 on Wednesday. The currency touched a high and low of 74.4750 and 74.3800 respectively.
