Indian rupee weakened against the US dollar on Monday, tracking a firm American currency at overseas markets. Further, growing Covid woes and escalating protests in China over its Zero Covid Policy has also weighed on Asian currencies. However, fresh foreign fund inflows and lower crude prices restricted the rupee’s fall. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they bought shares worth Rs 369.08 crore, exchange data showed.
The partially convertible currency is currently trading at 81.75, weaker by 4 paise from its previous close of 81.71 on Friday. The currency touched a high and low of 81.8350 and 81.6925 respectively.
