Indian rupee weakened against the US dollar on Monday as the American currency strengthened against a basket of its major peers overseas, though firm domestic equities and sustained foreign fund inflows supported the domestic currency and capped the fall in rupee's value. Foreign Institutional Investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 768.58 crore on Friday, exchange data showed. On the global front, the US dollar held near a one-month low versus major peers as investors pushed back expectations for when the US central bank will begin tapering its massive stimulus.
The partially convertible currency is currently trading at 73.05, weaker by 3 paise from its previous close of 73.02 on Friday. The currency touched a high and low of 73.07 and 73.02 respectively.
