2025-03-26 11:23:57 am | Source: Accord Fintech
Rupee weakens against US dollar on Wednesday
The Indian rupee weakened against the US dollar on Wednesday due to month-end demand for dollars from importers, the American currency’s recovery against major rivals, and slight rise in crude oil prices overseas after US President Donald Trump threatened a 25% tariff on countries like India and China that import oil from Venezuela. However, foreign fund inflows supported the domestic currency at lower levels. Foreign Institutional Investors (FII) bought shares worth Rs 5,371.57 crore from Indian equities on Monday.
The partially convertible currency is currently trading at 85.77, weaker by 5 paise from its previous close of 85.72 on Tuesday. The currency touched a high and low of 85.7875 and 85.6825 respectively.
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