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Rupee weakens against US dollar on Friday

12 May 2023 Evaluate

Indian rupee weakened against the US dollar on Friday weighed down by weak domestic equities despite continuous foreign capital inflows. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday as they purchased shares worth Rs 837.21 crore, exchange data showed. However, weakness in American currency and easing crude oil prices supported the domestic currency and limited further fall. Meanwhile, investors awaiting India’s inflation data, due later in the day.

The partially convertible currency is currently trading at 82.18, weaker by 10 paise from its previous close of 82.08 on Thursday. The currency touched a high and low of 82.1900 and 82.0975 respectively. 


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