Indian rupee weakened against the US dollar on Thursday amidst continued outflow of foreign funds from the capital market, while investors are cautious ahead of next week´s Federal Open Market Committee meeting. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 1,271.25 crore, exchange data showed. Meanwhile, India's February exports contracted for the third consecutive month, falling 8.8% to $33.88 billion against $37.15 billion in the same month last year. Moreover, recent banking crisis in the United States and crisis at the Swiss banking major Credit Suisse group also impacted on rupee sentiments.
The partially convertible currency is currently trading at 82.67, weaker by 2 paise from its previous close of 82.65 on Wednesday. The currency touched a high and low of 82.80 and 82.6250 respectively.
