Indian rupee weakened against the US dollar on Friday, pressured by volatility in domestic equity benchmarks coupled with strengthening crude oil prices. Though, weakness in American currency overseas and foreign fund inflows supported rupee sentiments and capped further fall in rupee. Foreign Institutional Investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 348.52 crore on Thursday, exchange data showed. On the macroeconomic front, India's exports jumped 45.17% to $33.14 billion in August as against $22.83 billion in the same month last year, while imports in August rose 51.47% to $47.01 billion as against $31.03 billion in the corresponding month of 2020, according to the commerce ministry's provisional data. On the global front, the US dollar weakened against major rivals ahead of a crucial US jobs report that could spur the Federal Reserve to an earlier tapering of stimulus.
The partially convertible currency is currently trading at 73.08, weaker by 2 paise from its previous close of 73.06 on Thursday. The currency touched a high and low of 73.0825 and 73.0300 respectively.
