2026-06-23 11:00:49 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 the American currency strengthened further to hover around its strongest level in 13 months amid a hawkish sentiment surrounding the Federal Reserve policy outlook and the fragile US-Iran trade deal. Investors are awaiting greater clarity on the reopening of the Strait of Hormuz, a key shipping route for global energy supplies. The rupee depreciated further after data showed Foreign institutional investors turned into net sellers, offloading equities worth Rs 635.91 crore on a net basis on Monday. However, softer global crude prices limited further declines for the Indian rupee.
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