Indian rupee weakened marginally against the US dollar on Wednesday as weakness in the domestic equities and strength of crude oil prices weighed on investor sentiments. Foreign Institutional Investors (FII) were remained net sellers in the capital market as they offloaded shares worth Rs 1,254.95 crore on Tuesday, exchange data showed. Moreover, the strength of the US bond yields and American currency with expectations for a quicker-than-expected interest rate hike mount also adding pressure on rupee sentiments. Meanwhile, investors are awaiting next week's US Federal Reserve policy meeting.
The partially convertible currency is currently trading at 74.60, weaker by 2 paise from its previous close of 74.58 on Tuesday. The currency touched a high and low of 74.7050 and 74.5900 respectively.
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