Indian rupee weakened against the US dollar on Wednesday due to sustained foreign fund outflows in the capital market. Foreign Institutional Investors (FIIs) remained net sellers in the capital market as they offloaded shares worth Rs 1,209.82 crore on Tuesday, exchange data showed. Moreover, rising crude prices in the international market and concerns regarding the rapid spread of the Omicron strain of the coronavirus globally have also dampened rupee sentiments. However, firm trend in domestic equities and retreat in the dollar index have benefited rupee and restricted further fall in rupee.
The partially convertible currency is currently trading at 75.63, weaker by 4 paise from its previous close of 75.59 on Tuesday. The currency touched a high and low of 75.6575 and 75.4825 respectively.
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