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Rupee weakens against US dollar on Tuesday

15 Nov 2022 Evaluate
Indian rupee weakened against the US dollar on Tuesday after US Federal Reserve Governor Christopher Waller warned that the central bank was not softening its fight against inflation. Although, some losses were capped after data showed CPI inflation in India has declined to 6.7% in October from 7.4% in September. Easing crude oil prices and sustained foreign fund inflows also supported the rupee and limited the depreciation bias. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday as they purchased shares worth Rs 1,089.41 crore, exchange data showed. 

The partially convertible currency is currently trading at 81.33, weaker by 5 paise from its previous close of 81.28 on Monday. The currency touched a high and low of 81.4525 and 81.1400 respectively.

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