Indian rupee weakened against the U.S. dollar on Tuesday weighed by spike in global energy prices. The Brent crude oil prices have surged to trade above $111 a barrel after reports indicated that US President Trump was not satisfied with Iran’s proposal to reopen the Strait of Hormuz and end the two-month war in exchange of delaying nuclear talks. Further, investors maintained risk adverse approach amid persistent foreign fund outflows. The foreign institutional investors were the net seller on Monday’s session, offloading securities worth Rs 1,151.48 crore. On the global front, the British pound has weakened against the dollar on Tuesday, to trade near $1.35 as U.S.-Iran talks remained at a standstill and domestic political pressures weigh on markets.

Finally, the rupee ended at 94.66 (Provisional), weakened by 51 paise from its previous close of 94.15 on Monday. The currency touched a high and low of 94.66 and 94.35 respectively.