Rupee weakens against US dollar on muted trend in domestic equities

Indian rupee weakened against the US dollar on Tuesday, followed by muted trend in domestic equities amid foreign fund outflows in the capital market. Exchange data showed that Foreign Institutional Investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 589.36 crore on Monday. On the global front, the possibility of delay in in monetary policy tapering in the United States after weaker-than-expected jobs data on Friday, has put pressure on the US dollar.

The partially convertible currency is currently trading at 73.28, weaker by 18 paise from its previous close of 73.10 on Monday. The currency touched a high and low of 73.30 and 73.12 respectively.

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