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Rupee weakens against US dollar on Monday

26 Jun 2023 Evaluate

Indian rupee weakened against the US dollar on Monday due to weak global cues following mutiny by Russian mercenaries, that stoked concerns about stability in the nuclear-armed country. A mixed commentary on further interest rate hikes by the US Federal Reserve also made investors cautious. Foreign Portfolio Investors (FPIs) were net sellers in the capital market on Friday as they offloaded shares worth Rs 344.81 crore, exchange data showed.

The partially convertible currency is currently trading at 81.99, weaker by 3 paise from its previous close of 81.96 on Friday. The currency touched a high and low of 82.0175 and 81.94 respectively.

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