Indian rupee weakened against the US dollar on Tuesday due to tensions around the Russia-Ukraine conflict. Escalations in Ukraine tensions with Russia recognising two pro-Russian rebel regions have aggravated the crisis. Additional pressure came in as foreign institutional investors (FIIs) stood as net seller for Rs 2,261.90 crore worth of share on Monday. Traders paid no heed toward NITI Aayog CEO Amitabh Kant’s statement that Indian economy growing at 9.2%, among fastest-growing large economies. He added the Indian economy is expected to grow at similar rates in the coming years.
The partially convertible currency at 74.86, weaker by 31 paise from its previous close of 74.55 on Monday. The currency touched a high and low of 74.86 and 74.70 respectively.
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