Indian rupee weakened against US dollar on Wednesday as fear of the rapid spread of the Omicron variant kept the pressure on the domestic unit. Delhi has reported four more cases of Omicron while eight more persons have tested positive for the Omicron variant in Maharashtra on Tuesday, taking the tally in the country to 61. Further, weakness in domestic equities following continuous foreign fund outflows also weighed on rupee’s sentiments. Foreign Institutional Investors (FIIs) remained net sellers in the capital markets, pulling out Rs 763.18 crore on Tuesday, exchange data showed. Meanwhile, global investors are eyeing towards a key US Federal Reserve policy meeting outcome for clues when the US central bank might hike interest rates.
The partially convertible currency is currently trading at 76.05, weaker by 17 paise from its previous close of 75.88 on Tuesday. The currency touched a high and low of 76.1000 and 76.0300 respectively.
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