Indian rupee weakened against the US dollar on Friday, tracking firm American currency at overseas markets after strong US data and hawkish comments from the US Federal Reserve officials fuelled expectations that the US Federal Reserve would further tighten monetary policy to tackle inflation. Moreover, weakness in domestic equities also adding pressure on rupee sentiments. Meanwhile, Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday as they purchased shares worth Rs 1,570.62 crore, exchange data showed.
The partially convertible currency is currently trading at 82.75, weaker by 5 paise from its previous close of 82.70 on Thursday. The currency touched a high and low of 82.8050 and 82.7350 respectively.
