Rupee weakens against dollar on Tuesday
The rupee ended at 90.20 (Provisional), weakened by 3 paise from its previous close of 90.17 on Monday
Indian rupee weakened against the U.S. dollar on Tuesday weighed by US President Donald Trump’s announcement of 25% tariffs on any country doing business with Iran. Investors worry that the move could impact Iran’s major trading partners such as India, China and the UAE. Further, traders took cautious approach amid persistent foreign institutional investors (FIIs) selling. The FIIs were the net seller on Monday’s trade, offloading equities worth Rs 3,638.40 crore. On the global front, the New Zealand dollar strengthened against other major currencies in the Asian session on Tuesday after data showed that the New Zealand's business confidence soared to the highest level since March 2014.
Finally, the rupee ended at 90.20 (Provisional), weakened by 3 paise from its previous close of 90.17 on Monday. The currency touched a high and low of 90.30 and 90.18 respectively.
