Rupee weakens against US dollar on Tuesday
The Indian rupee weakened against the US dollar in early trade on Tuesday amid foreign fund outflows from the Indian capital market. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 457.34 crore on Monday, while Domestic Institutional Investors (DIIs) remained buyers as they bought equities worth Rs 4,058.22 crore, exchange data showed. However, sharp losses in the rupee limited by drop in global crude oil prices and weaker American currency with growing expectations of further US rate cuts in 2026 as US President Trump intends to appoint a dovish Fed Chair.
The partially convertible currency is currently trading at 89.73, weaker by 5 paise from its previous close of 89.68 on Monday. The currency touched a high and low of 89.7575 and 89.59 respectively.
