Indian rupee weakened against US dollar on Thursday following losses in domestic equity markets amid concerns over rising Cvoid-19 cases. According to the Union Health Ministry data, the number of new coronavirus cases in India hit a record daily high with over 2 lakh infections being reported in a day, while the active cases surpassed the 14-lakh mark. Besides, foreign fund outflows also weighed on investors` sentiment. As per provisional data, Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 730.81 crore on Tuesday. Meanwhile, Indian currency market was remained shut on April 13 and April 14 on account of Gudhipadwa and Dr Baba Saheb Ambedkar Jayanti, respectively.
The partially convertible currency is currently trading at 75.16, weaker by 11 paise from its previous close of 75.05 on Monday. The currency touched a high and low of 75.3350 and 74.1600 respectively.