Indian rupee weakened against the US dollar on Friday tracking weakness in domestic equities amid foreign fund outflows from the capital market. Foreign Institutional Investors (FIIs) turned net sellers in capital markets on Thursday as they offloaded shares worth Rs 710.74 crore, exchange data showed. Moreover, increased risk aversion in global markets following rising Covid-19 infections in China and US Federal Reserve's hawkish commentary on US monetary policy also weighed on rupee sentiments. However, a weak American currency in the overseas market restricted the rupee's fall.
The partially convertible currency is currently trading at 82.88, weaker by 12 paise from its previous close of 82.76 on Thursday. The currency touched a high and low of 82.8850 and 82.77 respectively.
