2025-11-26 12:16:53 pm | Source: Accord Fintech
Rupee weakens against US dollar on Wednesday
The Indian rupee weakened against the US dollar on Wednesday due to persistent demand for American currency among importers, despite expectations that the Federal Reserve will cut interest rates next month. However, some fall was limited by firm domestic equities, some inflow of foreign funds and optimism over talks on Russia-Ukraine peace deal. Foreign institutional investors bought equities worth Rs 785.32 crore on a net basis on Tuesday, exchange data showed.
The partially convertible currency is currently trading at 89.24, weaker by 2 paise from its previous close of 89.22 on Tuesday. The currency touched a high and low of 89.28 and 89.17 respectively.
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