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Rupee weakens against US dollar on Wednesday

28 Dec 2022 Evaluate
Indian rupee weakened marginally against the US dollar on Wednesday following weak global cues and persistent foreign capital outflows from the capital markets. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday as they offloaded shares worth Rs 867.65 crore, exchange data showed. Moreover, muted domestic equities and rising crude oil prices also kept sentiments negative. On the global front, the US dollar climbed against the yen, buoyed by higher Treasury yields amid hopes for a strong rebound in Chinese growth as Covid-19 curbs loosen.

The partially convertible currency is currently trading at 82.89, weaker by 2 paise from its previous close of 82.87 on Tuesday. The currency touched a high and low of 82.9100 and 82.8450 respectively.

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