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Rupee weakens against US dollar on Tuesday

13 Dec 2022 Evaluate
Indian rupee weakened against the US dollar on Tuesday as traders were anxious about continuous foreign fund outflows with exchange data showed Foreign Institutional Investors (FIIs) remained net sellers in the capital markets on Monday as they offloaded shares worth Rs 138.81 crore. Rupee fell further ahead of the US inflation data release and Fed’s decision on interest rates slated to be announced later this week. A fall in domestic retail inflation for November below the RBI's tolerance limit and  a weak American currency overseas, however, capped the losses in the rupee. 

The partially convertible currency is currently trading at 82.64, weaker by 13 paise from its previous close of 82.51 on Monday. The currency touched a high and low of 82.7350 and 82.62 respectively.

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