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Rupee weakens against US dollar on Friday

14 Oct 2022 Evaluate
Indian rupee weakened against the US dollar on Friday after data showed a bigger-than-expected rise in US consumer prices last month fuelled fears of more aggressive interest rate hikes by the US Federal Reserve. Moreover, sustained foreign capital outflows, resurgence in Covid-19 infections and tightening Covid-19 curbs in China also putting more pressure on rupee. Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 1,636.43 crore on Thursday, exchange data showed.

The partially convertible currency is currently trading at 82.38, weaker by 14 paise from its previous close of 82.24 on Thursday. The currency touched a high and low of 82.3850 and 82.1250 respectively.

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