Indian rupee weakened against the US dollar on Thursday due to firm American currency against major rivals overseas following US Fed’s hawkish commentary of two more rate hikes during the year. Muted trend in domestic equities also dampened rupee sentiments. However, foreign fund inflows into capital markets, limited further weakness in rupee. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Wednesday as they purchased shares worth Rs 1,714.72 crore, exchange data showed.
The partially convertible currency is currently trading at 82.20, weaker by 15 paise from its previous close of 82.05 on Wednesday. The currency touched a high and low of 82.2575 and 82.16 respectively.