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Rupee weakens against US dollar on Thursday

17 Nov 2022 Evaluate
Indian rupee weakened against the US dollar on Thursday, tracking a muted trend in domestic equities amid fears that stronger-than-expected US retail sales data could push the Federal Reserve to sustain its aggressive rate hike stance. Further, the strength of the American currency in the overseas market also adding more pressure on rupee sentiments. Moreover, Foreign Institutional Investors (FIIs) were net sellers in capital markets as they offloaded shares worth Rs 386.06 crore on Wednesday, exchange data showed. However, weaker crude oil prices capped the losses.

The partially convertible currency is currently trading at 81.60, weaker by 34 paise from its previous close of 81.26 on Wednesday. The currency touched a high and low of 81.6350 and 81.48 respectively.


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