Indian rupee weakens against US dollar in early trade on Monday
The partially convertible currency is currently trading at 92.98, weaker by 7 paise from its previous close of 92.91 on Friday
The Indian rupee weakened against the US dollar in early trade on Monday amid investor caution surrounding renewed Middle East tensions and the re-closure of the Strait of Hormuz, which clouded prospects for talks ahead of a ceasefire deadline. A strong dollar and rising crude oil prices further dampened rupee sentiments. However, fresh foreign institutional investor (FII) inflows and the Reserve Bank of India's (RBI) ongoing measures to curb speculation have limited further falls in the rupee. Foreign Institutional Investors bought equities worth Rs 683.20 crore on Friday, exchange data showed.
The partially convertible currency is currently trading at 92.98, weaker by 7 paise from its previous close of 92.91 on Friday. The currency touched a high and low of 92.99 and 92.7050 respectively.
