Indian rupee weakened against the US dollar on Monday due to surge in crude oil prices following a surprise production cut by OPEC+. Moreover, weakness in domestic equities, growing fears about the turmoil in the banking sector in the United States and Europe, and firm American currency at overseas markets have also dampened rupee sentiments. Meanwhile, investors are awaiting RBI Monetary Policy Committee's decision on interest rate later this week. However, Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they purchased shares worth Rs 357.86 crore, exchange data showed.
The partially convertible currency is currently trading at 82.43, weaker by 22 paise from its previous close of 82.21 on Friday. The currency touched a high and low of 82.46 and 82.3825 respectively.
