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Rupee weakens against US dollar on Thursday

21 Dec 2023 Evaluate
Indian rupee weakened against US dollar on Thursday, driven by risk aversion in the global markets and caution ahead of core PCE price index data that could provide more cues on the US Fed's rate path. Moreover, continued foreign fund outflows and year-end dollar demand from importers also weighed on rupee sentiments. Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded stocks worth Rs 1,322.08 crore, exchange data showed.

The partially convertible currency is currently trading at 83.27, weaker by 9 paise from its previous close of 83.18 on Wednesday. The currency touched a high and low of 83.2825 and 83.1875 respectively.

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