2025-02-12 11:56:07 am | Source: Accord Fintech
Rupee weakens against US dollar on Wednesday
Indian rupee weakened against the US dollar on Wednesday driven by volatile domestic equities and outflow of foreign funds, while strengthening American currency at overseas markets following concerns over the worldwide tariff war also weighed on domestic currency. Foreign Institutional Investors offloaded equities worth Rs 4,486.41 crore in the capital markets on a net basis on Tuesday, exchange data showed. However, easing crude oil prices and measures by the Reserve Bank have limited further fall in domestic unit.
The partially convertible currency is currently trading at 86.86, weaker by 7 paise from its previous close of 86.79 on Tuesday. The currency touched a high and low of 86.8650 and 86.36 respectively.
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