Rupee weakens against US dollar on Wednesday
The Indian rupee weakened against the US dollar on Wednesday tracking weakness in domestic equities amid India conducted Operation Sindoor to destroy terror infrastructure in Pakistan in the early hours of Wednesday. Rupee weakened further by the firm American currency overseas as investors are closely watching potential developments in tariff negotiations between the US government and its trading partners, and also awaiting the US Federal Reserve’s next policy signal. However, some falls were limited by continued foreign investor support. Foreign institutional investors bought equities worth Rs 3,794.52 crore on a net basis on Tuesday, exchange data showed.
The partially convertible currency is currently trading at 84.53, stronger by 18 paise from its previous close of 84.35 on Tuesday. The currency touched a high and low of 84.79 and 84.47 respectively.
