2026-05-14 11:58:40 am | Source: Accord Fintech
Rupee weakens to record low against US dollar in early trade
The Indian rupee weakened to a record low against the US dollar in early trade on Thursday, driven by elevated crude prices following concerns over the West Asia crisis. Additionally, a firm US dollar supported by stronger-than-expected US inflation data reinforced expectations that the Federal Reserve will keep interest rates higher for longer or even hike them. Moreover, continued foreign fund outflows also contributed to the downside. Foreign Institutional Investors offloaded equities worth Rs 4,703.15 crore on Wednesday, exchange data showed. Meanwhile, markets are also closely watching US President Trump’s visit to China for signs of progress on the fragile trade truce and developments surrounding the Iran conflict.
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