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Rupee weakens against US dollar on Thursday

09 Feb 2023 Evaluate
Indian rupee weakened against the US dollar on Thursday amid muted trend in domestic equities following sustained foreign fund outflows from the capital market. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 736.82 crore, exchange data showed. Moreover, firm crude oil prices also dampened rupee sentiments. Meanwhile, bankers said the central bank’s decision to hike the repo rate by 25 basis points was on expected lines but the policy focuses more on inflation despite the recent moderation in the number.

The partially convertible currency is currently trading at 82.63, weaker by 9 paise from its previous close of 82.54 on Wednesday. The currency touched a high and low of 82.6550 and 82.55 respectively.

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