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Rupee weakens against US dollar on Friday

24 Mar 2023 Evaluate
Indian rupee weakened against the US dollar on Friday tracking losses in domestic equities and foreign fund outflows from capital markets. Foreign Portfolio Investors (FPIs) turned net sellers on March 23 as they sold equities worth Rs 995 crore, exchange data showed. However, the US Fed's hints at a potential pause in its rate-hike trajectory, limited further weakness in rupee. 

The partially convertible currency is currently trading at 82.25, weaker by 5 paise from its previous close of 82.20 on Thursday. The currency touched a high and low of 82.2850 and 82.20 respectively.

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