Rupee weakens against US dollar on Tuesday
The partially convertible currency is currently trading at 93.83, weaker by 30 paise from its previous close of 93.53 on Monday
The Indian rupee weakened against the US dollar on Tuesday amid the strength of the American currency and rising global crude oil prices as Iran denied US President Donald Trump’s claims of ongoing peace talks. Moreover, Foreign Institutional Investors continued their selling spree by offloading equities worth Rs 10,414.23 crore on Monday. Although a strong start in trading at the domestic equity markets and significant interventions by the Reserve Bank of India (RBI) have limited further falls in the domestic currency.
The partially convertible currency is currently trading at 93.83, weaker by 30 paise from its previous close of 93.53 on Monday. The currency touched a high and low of 93.86 and 93.66 respectively.
