INR vs USD: Traders said dollar's strength against some currencies overseas weighed on the local unit.
The rupee weakened by 17 paise to hit an intraday low of 73.44 against the dollar on Friday, amid increased demand of the American currency from importers and sustained foreign fund outflows, reported news agency Press Trust of India. Strength in the dollar against a group of currencies overseas and a lower opening in the domestic equity markets also weighed on the rupee, the agency cited traders as saying. On Thursday, the rupee had depreciated by 11 paise to close at 73.27 against the dollar. The rupee is still down more than 14 per cent so far this year.
Here are five things to know:
- On a net basis, foreign funds sold shares worth Rs 1,495.71 crore, while domestic institutional investors bought shares to the tune of Rs 339.60 crore on Thursday, provisional data showed
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