Indian rupee weakened against the US dollar on Wednesday, tracking strengthening American currency in the overseas market. Meanwhile, investors are cautiously awaiting the upcoming interest rate decision by the US Federal Reserve. The Fed is widely expected to raise its benchmark rate by 0.50 percentage points on Wednesday. However, firm domestic equities and decline in crude oil benchmarks also capped further fall in rupee. Foreign Institutional Investors (FIIs) turned net buyers in capital markets on Tuesday as they bought shares worth Rs 619.92 crore, exchange data showed.
The partially convertible currency is currently trading at 82.64, weaker by 4 paise from its previous close of 82.60 on Tuesday. The currency touched a high and low of 82.7150 and 82.60 respectively.
