Indian rupee weakened against the US dollar on Monday, tracking fresh foreign fund outflows from the capital market. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth Rs 113.46 crore, exchange data showed. Rupee fell further after the RBI said it would withdraw Rs 2000 notes from circulation as a part of its clean note policy, while uncertainty over US debt-ceiling negotiations also dampened rupee sentiments.
The partially convertible currency is currently trading at 82.80, weaker by 13 paise from its previous close of 82.67 on Friday. The currency touched a high and low of 82.8550 and 82.7050 respectively.
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