Indian rupee weakened against the US dollar on Thursday amid surging crude oil prices after OPEC+ heavyweights Saudi Arabia and Russia agreed to extend output cut till December this year, and firm American currency also put pressure on the rupee. Meanwhile, strong US services PMI data also fuelled expectations that the US Federal Reserve will keep interest rates higher for longer. Moreover, massive selling of equities by foreign investors also dampened rupee sentiments. Foreign Institutional Investors were net sellers in the capital markets as they offloaded shares worth Rs 3,245.86 crore, while Domestic Institutional Investors net sold shares to the tune of Rs 247.46 crore on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 83.15, weaker by 2 paise from its previous close of 83.13 on Wednesday. The currency touched a high and low of 83.1650 and 83.1225 respectively.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: