Rupee weakens against US dollar in early trade on Tuesday
The Indian rupee weakened against the US dollar in early trade on Tuesday amid a strengthening American currency against its major peers overseas and ahead of US inflation data due later in the day. Rupee fell further by weak domestic equities and higher crude oil prices after US President Donald Trump announced a fresh 25% tariff on countries engaging in trade with crisis-hit Iran. Moreover, continuous foreign fund outflows from Indian capital market also dampened rupee sentiments. Foreign institutional investors offloaded equities worth Rs 3,638.40 crore on Monday, exchange data showed.
The partially convertible currency is currently trading at 90.25, weaker by 8 paise from its previous close of 90.17 on Monday. The currency touched a high and low of 90.27 and 90.2075 respectively.
