Indian rupee weakened against the US dollar on Friday amid significant foreign fund outflows from the capital market. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 3,065.35 crore, exchange data showed. Moreover, a firm American currency at overseas markets and looming fears of a US recession have also influenced rupee deals. On the global front, both the euro and sterling declined against US dollar as markets took a dovish cue from policymakers at the European Central Bank (ECB) and Bank of England (BOE), who said inflationary pressures in their economies have become more manageable.
The partially convertible currency is currently trading at 82.23, weaker by 3 paise from its previous close of 82.20 on Thursday. The currency touched a high and low of 82.29 and 82.0825 respectively.