Rupee weakens against US dollar in early trade on Monday
The Indian rupee weakened against the US dollar in early trade on Monday after global crude oil prices shot up as the war between US-Israel and Iran intensified. Rupe fell further by tracking crash at the domestic equity markets and strong dollar overseas, while Foreign Institutional Investors (FIIs) continued their selling spree by offloading equities worth Rs 6,030.38 crore on Friday. Moreover, markets largely ignored positive RBI data showing that India's forex reserves jumped $4.885 billion to an all-time high of $728.494 billion during the week ended February 27.
The partially convertible currency is currently trading at 92.15, weaker by 33 paise from its previous close of 91.82 on Friday. The currency touched a high and low of 92.3475 and 92.15 respectively
