Indian rupee weakened against the US dollar on Monday amid strong American currency at overseas markets. Meanwhile, investors are cautiously awaiting clues on the US Federal Reserve’s interest rate hike path this year from its Chair Jerome Powell's congressional testimonies this week. However, foreign fund inflows into capital markets and falling crude prices limited further weakness in Indian rupee. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they purchased shares worth Rs 794.78 crore, exchange data showed.
The partially convertible currency is currently trading at 81.97, weaker by 7 paise from its previous close of 81.90 on Friday. The currency touched a high and low of 82.01 and 81.9375 respectively.
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