2026-07-22 02:17:19 pm | Source: Accord Fintech
Rupee weakens against US dollar in early trade on Wednesday
The Indian rupee weakened against the US dollar in early trade on Wednesday, pressured by elevated crude oil prices and persistent geopolitical tensions. Demand for the American currency increased as a safe-haven currency following US President Donald Trump's dismissal of immediate talks with Iran and warnings of further retaliation against Red Sea shipping disruptions. Moreover, RBI’s measures to attract overseas deposits have generated significant foreign currency inflows, boosted market confidence and provided support to the rupee. Meanwhile, Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,650.16 crore on Tuesday, exchange data showed.
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