Rupee weakens against US dollar in early trade on Tuesday
The Indian rupee weakened against the US dollar in early trade on Tuesday as investors await more clarity on the US-Iran peace deal. A preliminary agreement to end the war in the Gulf has been signed by the United States and Iran. US President Donald Trump said, though details have yet to be made public and both countries said a permanent truce is yet to be negotiated. Investors also looked ahead to a series of global central bank policy decisions this week, with the US Federal Reserve set to announce first interest rate decision under new chair Kevin Warsh on Wednesday. However, a sharp decline in oil prices, easing of tensions in the Middle East, firm domestic equities and fresh foreign fund inflows have limited further falls in the rupee. Foreign institutional investors turned buyers, purchasing equities worth Rs 200.05 crore on a net basis on Monday, exchange data showed.
