Indian rupee weakened against the US dollar on Thursday after strong US manufacturing data lifted conviction among traders that the US central would announce a 50-basis-point interest rate hike at its meeting later this month. While, strength in the American currency at overseas market also adding pressure on rupee sentiments. However, a sell-off in the crude oil prices ahead of the OPEC+ meeting capped weakness in the domestic unit. Foreign institutional investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 1,930.16 crore, exchange data showed.
The partially convertible currency is currently trading at 77.61, weaker by 11 paise from its previous close of 77.50 on Wednesday. The currency touched a high and low of 77.6225 and 77.5775 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: