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Rupee weakens on increased demand for American currency from importers, banks
India, April 16 -- Indian rupee weakened against the US dollar on Tuesday on account of increased demand for the American currency from importers and banks. Besides, strengthening of the American currency in the overseas market too weighed on the domestic currency. However, sustained foreign fund inflows, fall in crude oil prices and positive opening in domestic equities supported the rupee and restricted the fall. Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 713.22 crore on Monday, as per provisional data. On the global front, the dollar edged up against a basket of its key rivals, with investors erring on the side of caution as they looked for more concrete signs of stabilization in the ...
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