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Rupee weakens against US dollar on Friday
Jan-14-2022

Indian rupee weakened against US dollar on Friday tracking muted trend in domestic equities with continued foreign fund outflows in the capital market. Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1390.85 crore on Thursday, exchange data showed. Further, rising crude oil prices with growing concerns over surging coronavirus case in the country and its impact on economic rebound, have also weighed on rupee sentiments. India reports a 264,202 daily rise in coronavirus cases this Friday, the highest since May 20, against 247,147 reported on Thursday. However, weakness in American currency overseas capped losses in the domestic unit.

The partially convertible currency is currently trading at 74.12, weaker by 22 paise from its previous close of 73.90 on Thursday. The currency touched a high and low of 74.1375 and 74.0500 respectively.

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