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Rupee weakens against US dollar on Wednesday

21 Dec 2022 Evaluate
Indian rupee weakened against the US dollar on Wednesday, tracking weak domestic equities and a surprise tweak in monetary policy by Bank of Japan (BoJ) on Tuesday. Moreover, strengthening American currency overseas, jump in global crude oil benchmarks, and fears about the US Federal Reserve's plan to keep raising US interest rates also adding more pressure on rupee sentiments. However, Foreign institutional investors (FIIs) turned net buyers in the capital markets on Tuesday as they purchased shares worth Rs 455.94 crore, exchange data showed.

The partially convertible currency is currently trading at 82.73, weaker by 3 paise from its previous close of 82.70 on Tuesday. The currency touched a high and low of 82.78 and 82.66 respectively.

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