Indian rupee weakened against the US dollar on Wednesday tracking volatility in domestic equities, while foreign fund outflows in the capital market and strong American currency also weighed on rupee sentiments. Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 145.45 crore on Tuesday, exchange data showed. On the global front, the US dollar hovered near a one-week peak against its major rivals, buoyed by higher Treasury yields and a weaker euro ahead of a European Central Bank policy decision.
The partially convertible currency is currently trading at 73.63, weaker by 21 paise from its previous close of 73.42 on Tuesday. The currency touched a high and low of 73.70 and 73.4825 respectively.
