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Rupee weakens against US dollar on Monday

13 Feb 2023 Evaluate
Indian rupee weakened against the US dollar on Monday amid weak trend in domestic equities ahead of domestic retail inflation data due later in the day. Meanwhile, investors are cautiously awaiting the US January consumer price index data is due tomorrow and is expected to show core consumer prices rose 0.4 percent for the month. Moreover, firm American currency at overseas markets following hawkish tone by US Federal Reserve also dented rupee sentiments. However, Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they purchased shares worth Rs 1,458.02 crore, exchange data showed.

The partially convertible currency is currently trading at 82.72, weaker by 14 paise from its previous close of 82.58 on Friday. The currency touched a high and low of 82.7675 and 82.6775 respectively.

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