Rupee weakens against US dollar on Tuesday

Indian rupee weakened against the US dollar on Tuesday, as caution ahead of the release of US and Indian inflation data as well as the Federal Open Market Committee minutes. Moreover, increasing crude oil prices also dampened rupee sentiments. But, firm domestic equities, foreign fund inflows into Indian capital market and weakness in American currency overseas, limited further fall in rupee. Foreign institutional investors were net buyers in the capital market on Monday as they purchased shares worth Rs 882.52 crore, exchange data showed.