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Rupee weakens against US dollar on Thursday

06 Oct 2022 Evaluate
Indian rupee weakened against the US dollar on Thursday as hawkish comments from Fed officials and rising international crude oil prices weighed on rupee sentiments. While, investors are now focusing to US nonfarm payrolls data due on Friday, that could affect the outlook for the Federal Reserve's rate-hike path. Although, Foreign Institutional Investors were net buyers in the capital market as they purchased shares worth Rs 1,344.63 crore on Tuesday, exchange data showed. Meanwhile, forex markets were closed on Wednesday on account of Dussehra.

The partially convertible currency is currently trading at 81.70, weaker by 8 paise from its previous close of 81.62 on Tuesday. The currency touched a high and low of 81.72 and 81.51 respectively.

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