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Rupee weakens against US dollar on Tuesday

24 Jan 2023 Evaluate
Indian rupee weakened against the US dollar in early trade on Tuesday due to foreign fund outflows from the capital market and concerns over the outlook for interest rates and recession fears in the United States. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Monday as they sold shares worth Rs 219.87 crore, exchange data showed. However, firm domestic equities and a weaker American currency overseas restricted rupee's fall.

The partially convertible currency is currently trading at 81.58, weaker by 16 paise from its previous close of 81.42 on Monday. The currency touched a high and low of 81.6950 and 81.57 respectively.

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