Rupee weakens against US dollar on Tuesday
Indian rupee weakened and hit a new all-time low against the US dollar on Tuesday, tracking strengthening American currency and sustained outflow of foreign capital. Moreover rising crude oil prices and fear of delayed interest rate cuts by the US Federal Reserve in 2025 have also weighed on rupee sentiments. Foreign Institutional Investors were net sellers in the capital markets on Monday as they offloaded shares worth Rs 168.71 crore, while Domestic Institutional Investors bought shares worth Rs 2,227.68 crore on the same day, exchange data showed.
The partially convertible currency is currently trading at 85.19, weaker by 8 paise from its previous close of 85.11 on Monday. The currency touched a high and low of 85.1950 and 85.10 respectively.
