MUMBAI: The Indian rupee weakened on Tuesday as outflows related to the rebalancing of some global equity indexes, coupled with dollar demand from importers, pressured the currency even as most of its Asian peers gained.
The rupee closed at 83.67 against the US dollar, down 0.1% from its close at 83.5525 in the previous session.
Outflows related to a rejig of the FTSE equity indexes, dollar bids from a large Indian conglomerate and routine importer dollar demand pressured the currency on Tuesday, traders said.
The pressure snapped the currency’s six-day winning streak which had lifted the currency by about 0.5%.
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