Rupee weakens against US dollar in early trade on Thursday
The Indian rupee weakened against the US dollar in early trade on Thursday after the US Federal Reserve held interest rates unchanged at 3.75%-4.00%, with market participants awaiting fresh US inflation data and upcoming policy decisions in Europe and Japan. However, some falls were limited by easing crude oil prices as the possibility of fresh diplomatic developments between the United States and Iran offset immediate fears of supply disruptions. Foreign Institutional Investors (FIIs) bought equities worth Rs 871.83 crore on a net basis on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 95.37, weaker by 9 paise from its previous close of 95.28 on Wednesday. The currency touched a high and low of 95.38 and 95.1750 respectively.
