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Rupee weakens against US dollar on Tuesday

30 Nov 2021 Evaluate

India rupee weakened against the US dollar on Tuesday, tracking muted trend in domestic equities following concerns over the Omicron coronavirus variant's impact on the global economy. Further, unabated foreign fund outflows also adding pressure on rupee sentiments. Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 3,332.21 crore on Monday, exchange data showed. However, weakness in American currency at overseas markets capped further fall in rupee.

The partially convertible currency is currently trading at 75.14, weaker by 7 paise from its previous close of 75.07 on Monday. The currency touched a high and low of 75.1950 and 74.8600 respectively.

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