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Rupee weakens against US dollar on Wednesday

21 Sep 2022 Evaluate
Indian rupee weakened against the US dollar on Wednesday ahead of US Federal Reserve's policy decision on interest rates this evening for further cues, while strong American currency in the overseas market also weighed on rupee sentiments. Moreover, firm crude oil prices and muted trend in domestic equities also adding pressure on domestic currency. Although, Foreign Institutional Investors (FIIs) were net buyers in the capital market as they purchased shares worth Rs 1,196.19 crore on Tuesday, exchange data showed.

The partially convertible currency is currently trading at 79.85, weaker by 11 paise from its previous close of 79.74 on Tuesday. The currency touched a high and low of 79.8625 and 79.79 respectively.

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