Indian rupee weakened against the US dollar on Monday, tracking the strength of the American currency and followed by hawkish comments from Federal Reserve Chair Jerome Powell last week which indicating a more significant and faster rate hikes path. Further, worries over rising Covid cases in China and global economic growth concerns also pressuring rupee sentiments. Meanwhile, Foreign Institutional Investors (FIIs) remained net sellers in the capital market on Friday as they offloaded shares worth Rs 2,461.72 crore, exchange data showed.
The partially convertible currency is currently trading at 76.66, weaker by 24 paise from its previous close of 76.42 on Friday. The currency touched a high and low of 76.69 and 76.58 respectively.
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