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Rupee weakens against US dollar on Tuesday

06 Sep 2022 Evaluate
Indian rupee weakened against the US dollar on Tuesday, weighed down by strength of the American currency at overseas market, while foreign fund outflows from capital market also put pressure on the rupee. Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 811.75 crore on Monday, exchange data showed. Moreover, concerns about US Federal Reserve's interest rate hike path and persisting Covid-19 curbs in China also weighed on investor sentiments.

The partially convertible currency is currently trading at 79.89, weaker by 11 paise from its previous close of 79.78 on Monday. The currency touched a high and low of 79.90 and 79.80 respectively.

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