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Rupee weakens against US dollar on Monday

18 Apr 2022 Evaluate

Indian rupee weakened against the US dollar on Monday tracking elevated crude oil prices globally. Meanwhile, strengthening of the American currency with expectations for faster US policy tightening also weighed on rupee sentiments. Foreign Institutional Investors (FIIs) remained net sellers in the capital market on Wednesday as they offloaded shares worth Rs 2,061.04 crore, exchange data showed. The forex market was closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti and on Friday on account of Good Friday.

The partially convertible currency is currently trading at 76.39, weaker by 20 paise from its previous close of 76.19 on Wednesday. The currency touched a high and low of 76.4300 and 76.3450 respectively.

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