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Rupee weakens against US dollar on Monday

18 Jul 2022 Evaluate
Indian rupee weakened against the US dollar on Monday as the foreign investor continue the selling in the Indian markets. Foreign Institutional Investors (FIIs) have net sold Rs 1649.36 crore worth of shares in the capital market on July 15, exchange data showed. Further, fear of global recession amidst inflationary pressure and monetary policy tightening in major global economies, also weighed on rupee sentiments. Although, positive trend in domestic equities supported and capped further weakness in the rupee.

The partially convertible currency is currently trading at 79.88, weaker by 6 paise from its previous close of 79.82 on Friday. The currency touched a high and low of 79.9075 and 79.7200 respectively.  

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