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Rupee weakens against US dollar on Thursday

03 Nov 2022 Evaluate
Indian rupee weakened against the US dollar on Thursday amid weak domestic equities after the US Federal Reserve raised interest rates by 0.75 percentage points to curb rising US inflation, and US Fed Chair Powell signalled more rate hiking ahead. Meanwhile, the Reserve Bank of India's Monetary Policy Committee (MPC) scheduled to meet later in the day. However, Foreign Institutional Investors (FIIs) were net buyers in the capital markets as they purchased shares worth Rs 1,436.30 crore on Wednesday, exchange data showed.

The partially convertible currency is currently trading at 82.90, weaker by 10 paise from its previous close of 82.80 on Wednesday. The currency touched a high and low of 82.9000 and 82.7425 respectively.

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