Rupee weakens against US dollar on Tuesday
Indian rupee weakened against the US dollar on Tuesday tracking sustained foreign fund outflows, and a rise in crude oil prices. Foreign institutional investors offloaded equities worth Rs 6,286.70 crore on a net basis on Monday, exchange data showed. Rupee sentiments weakened further by concerns that US President Donald Trump's recent tariff plans could fuel inflation and trigger a major global trade war. US President Donald Trump on Monday said that tariffs scheduled to hit Canada and Mexico next month were on time and moving along very rapidly following an initial delay. But a flat dollar limited further fall in rupee.
The partially convertible currency is currently trading at 86.90, weaker by 18 paise from its previous close of 86.72 on Monday. The currency touched a high and low of 86.9025 and 86.83 respectively.
