Indian rupee weakened against the US dollar on Thursday, as investors concerned about fresh impact of the omicron variant of Covid-19 on the economic growth. 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 2,765.84 crore on Wednesday, exchange data showed. Meanwhile, India's merchandise exports gained 26.49% y-o-y to $29.88 billion in November, and the trade deficit hit a record high of $23.27 billion as imports of crude oil and gold spiked.
The partially convertible currency is currently trading at 74.97, weaker by 6 paise from its previous close of 74.91 on Wednesday. The currency touched a high and low of 75.0700 and 74.9350 respectively.
