Rupee weakens against US dollar in early trade on Monday
The Indian rupee weakened against the US dollar in early trade on Monday as Foreign Institutional Investors continued their selling spree by offloading equities worth Rs 10,716.64 crore on Friday. Rupee fell further as the Middle East conflict enters its third week, while surging crude oil prices and global inflation fears also weighed on sentiments. Rupee also dampened further by recent Reserve Bank of India (RBI) data showing that the country's forex reserves dropped by $11.683 billion to $716.810 billion during the week ended March 6. In the previous reporting week, the overall reserves had increased by $4.885 billion to an all-time high of $728.494 billion. The Federal Reserve is widely expected to keep its interest rates steady in the 3.5% to 3.75% range at the conclusion of its two-day meeting on Wednesday, March 18, 2026.
The partially convertible currency is currently trading at 92.47, weaker by 17 paise from its previous close of 92.30 on Friday. The currency touched a high and low of 92.4750 and 92.42 respectively.
