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Rupee weakens against US dollar on Tuesday

06 Dec 2022 Evaluate
Indian rupee weakened against the US dollar on Tuesday as heavy selling pressure in domestic equities along with foreign fund outflows weighed on investor sentiment. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday as they sold shares worth Rs 1,139.07 crore, exchange data showed. Moreover, rising crude oil prices also put pressure on rupee. Meanwhile, investors are awaiting RBI's monetary policy decision. The Reserve Bank of India is expected to raise interest rates by a smaller 35 basis points to 6.25%. 

The partially convertible currency is currently trading at 82.26, weaker by 41 paise from its previous close of 81.85 on Monday. The currency touched a high and low of 82.3250 and 81.9450 respectively.

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