Indian rupee weakened against the US dollar on Thursday tracking volatility in the domestic equity market ahead of the Reserve Bank of India's (RBI) policy decision due on Friday for further cues. Further, worries over the spread of the coronavirus Delta variant globally too adding pressure on rupee sentiments. However, Foreign Institutional Investors (FIIs) were net buyers as they purchased shares worth Rs 2,828.57 crore in the capital market on Wednesday, exchange data showed. On the global front, the US dollar was trading flat after hawkish remarks from senior official at the US Federal Reserve which prompted traders to price in an earlier tightening of monetary policy.
The partially convertible currency is currently trading at 74.24, weaker by 5 paise from its previous close of 74.19 on Wednesday. The currency touched a high and low of 74.2850 and 74.1500 respectively.