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Rupee weakens against US dollar on Tuesday

27 Dec 2022 Evaluate
Indian rupee weakened against the US dollar on Tuesday amid persistent foreign fund outflows from the capital markets. Foreign Institutional Investors (FIIs) were net sellers in capital markets on Monday as they sold shares worth Rs 497.65 crore, exchange data showed. Moreover, rising crude prices also put pressure on rupee sentiments. However, some gains were capped by announcement that China will reopen borders and scrap quarantine for international travellers from next month.

The partially convertible currency is currently trading at 82.72, weaker by 7 paise from its previous close of 82.65 on Monday. The currency touched a high and low of 82.7650 and 82.69 respectively.

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