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Rupee weakens against US dollar on Thursday
Jan-27-2022

Indian rupee weakened against the US dollar on Thursday, tracking weakness in domestic equities amid sustained fund outflows from foreign institutional investors. Foreign Institutional Investors (FIIs) remained net sellers in the capital market as they offloaded shares worth Rs 7,094.48 crore on Tuesday, exchange data showed. Rupee fell further following bounce in the American currency and Treasury yields after the US Federal Reserve signalled it will begin raising interest rates soon. Moreover, firm crude oil prices also weighed on rupee sentiments. The forex and equity markets were closed on Wednesday on account of Republic Day.

The partially convertible currency is currently trading at 75.18, weaker by 40 paise from its previous close of 74.78 on Tuesday. The currency touched a high and low of 75.2450 and 75.1450 respectively.

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