Indian rupee weakened against the US dollar on Tuesday, due to foreign fund outflows from the capital market and firm crude oil prices. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday as they offloaded shares worth Rs 533.20 crore, exchange data showed. Moreover, growing recession worries followed by expectations of a 25-basis-point rate hike by the U.S Federal Reserve in May also dampened rupee sentiments. But, weakness in American currency overseas, limited further fall in rupee.
The partially convertible currency is currently trading at 82.07, weaker by 6 paise from its previous close of 82.01 on Monday. The currency touched a high and low of 82.09 and 81.96 respectively.