Indian rupee weakened against the US dollar on Thursday, driven by strong American currency overseas and importer hedging. Further, muted trend in domestic equities amid foreign fund outflows also weighed on rupee sentiment. Foreign Institutional Investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 802.51 crore on Wednesday, exchange data showed. On the global front, safe-haven US dollar gained against a basket of major currencies on doubts over the global economy's strength, while the euro looked to the European Central Bank policy decision later in the day.
The partially convertible currency is currently trading at 73.68, weaker by 8 paise from its previous close of 73.60 on Wednesday. The currency touched a high and low of 73.8550 and 73.6800 respectively.
