2025-01-28 11:40:48 am | Source: Accord Fintech
Indian rupee weakens against US dollar on Tuesday
Indian rupee weakened against the US dollar on Tuesday due to unabated dollar demand from oil importers and strength of the American currency at overseas market, while sustained foreign fund outflows has also dampened rupee sentiments. Foreign Institutional Investors offloaded Rs 5,015.46 crore in the capital markets on net basis on Monday, exchange data showed. Meanwhile investors are awaiting Union Budget 2025 release and US Federal Reserve's upcoming policy meeting.
The partially convertible currency is currently trading at 86.52, weaker by 21 paise from its previous close of 86.31 on Monday. The currency touched a high and low of 86.5725 and 86.5125 respectively.
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