2026-05-26 11:50:32 am | Source: Accord Fintech
Rupee weakens against US dollar in early trade on Tuesday
The Indian rupee weakened against the US dollar in early trade on Tuesday, as elevated crude oil prices and reports of fresh attacks against Iran overshadowed optimism regarding a potential agreement to reopen the Strait of Hormuz. Moreover, month-end dollar demand also weighed on rupee sentiments. Investors were focusing on upcoming US PCE inflation data to gauge the Federal Reserve's next policy moves. However, RBI intervention and fresh Foreign institutional investor buying have limited the currency's decline. Foreign institutional investors turned net buyers and purchased equities worth Rs 821.75 crore on Monday, exchange data showed.
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