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Rupee weakens against US dollar on Friday

19 May 2023 Evaluate

Indian rupee weakened against the US dollar on Friday tracking the overnight strength in the American currency and falling Chinese Yuan. However, foreign fund inflows into capital market, optimism over raising the US debt ceiling in Washington and the Reserve Bank of India's presence have capped further losses in rupee. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday as they purchased shares worth Rs 970.18 crore, exchange data showed.

The partially convertible currency is currently trading at 82.68, weaker by 6 paise from its previous close of 82.62 on Thursday. The currency touched a high and low of 82.8000 and 82.6875 respectively.

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