Indian rupee weakened against the US dollar on Wednesday amid muted trend in the domestic equity market following foreign fund outflows. Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 560.67 crore on Tuesday, exchange data showed. Further, firm American currency overseas after better-than-expected US retail data, also weighed on rupee sentiment. However, easing crude oil prices capped further weakness in rupee. On the global front, the euro held near a 16-month low to the dollar as Europe suffered from worries about growth amid a renewed surge in corona-virus cases.
The partially convertible currency is currently trading at 74.40, weaker by 3 paise from its previous close of 74.37 on Tuesday. The currency touched a high and low of 74.51 and 74.3875 respectively.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: