Indian Rupee Weakens Against The U.S. Dollar

The Indian rupee weakened against the U.S. dollar as investors moved towards safe haven currencies like the greenback due to worries about U.S. debt.

The local currency weakened 9 paise to open at 82.76, while it declined by 7 paise to close at 82.74 against the greenback on Thursday.

The local currency closed at 82.67 on Wednesday.

"The U.S. dollar index gained more than 0.30% on Wednesday to hit a fresh two-month high amid resiliency in U.S. economic growth while unease over U.S. debt ceiling talks forced investors to move towards safe havens," ICICI Securities said in a note. "Meanwhile, minutes from U.S. Fed last meeting signalled a likely pause in rate hike campaign in June," it said.