Indian rupee weakened against US dollar on Tuesday weighed down by weak domestic equities following sustained fund outflows from foreign institutional investors. Foreign Institutional Investors (FIIs) remained net sellers in the capital market as they offloaded shares worth Rs 3,751.58 crore on Monday, exchange data showed. Further, strong American currency overseas, concerns over potential military conflict in Ukraine, and elevated crude oil prices also weighed on rupee sentiments. Meanwhile, investors are cautiously awaiting the outcome of the US Federal Reserve meeting this week, which will be scrutinized for clues on a timetable for interest rate hikes and asset tapering.
The partially convertible currency is currently trading at 74.70, weaker by 10 paise from its previous close of 74.60 on Monday. The currency touched a high and low of 74.7525 and 74.5750 respectively.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: