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Rupee weakens against US dollar on Thursday
Aug-04-2022
Indian rupee weakened against the US dollar on Thursday as escalating geopolitical tensions between the United States and China weighed on investor sentiment. US Fed’s officials also signalled that Fed is still intent on raising rates to keep inflation under control, also influenced rupee's fall. investors are also remained cautious ahead of the Reserve Bank of India (RBI) monetary policy outcome on Friday. India’s exports dipped marginally for the first time in 17 months in July, while the trade deficit tripled to a record $31 billion fuelled by over a 70% rise in crude oil imports. Although, Foreign Institutional Investors remained net buyers in the capital market on Wednesday as they purchased shares worth Rs 765.17 crore, exchange data showed.

The partially convertible currency is currently trading at 79.46, weaker by 31 paise from its previous close of 79.15 on Wednesday. The currency touched a high and low of 79.5125 and 79.2100 respectively.
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