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Rupee weakens against US dollar on Thursday

06 Jul 2023 Evaluate

Indian rupee weakened against the US dollar on Thursday, weighed down by the strength of the American currency at overseas market after hawkish FOMC meeting minutes, which indicated more interest rate hikes to be needed to curb inflation. Moreover, elevated crude oil prices also dampened rupee sentiments. However, Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Wednesday as they purchased shares worth Rs 1,603.15 crore, exchange data showed.

The partially convertible currency is currently trading at 82.45, weaker by 20 paise from its previous close of 82.25 on Wednesday. The currency touched a high and low of 82.47 and 82.36 respectively.

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