Rupee weakens against US dollar in early trade on Wednesday
The partially convertible currency is currently trading at 93.81, weaker by 37 paise from its previous close of 93.44 on Tuesday
The Indian rupee weakened against the US dollar in early trade on Wednesday, weighed down by uncertainties over a West Asia peace agreement, and continued foreign fund outflows from domestic equities. Foreign Institutional Investors offloaded equities worth about Rs 1,918.99 crore on Tuesday, exchange data showed. While US President Donald Trump has extended the ceasefire with Iran indefinitely at Pakistan's request, he has maintained the US naval blockade of Iranian ports and the Strait of Hormuz until Tehran submits a 'unified proposal' for peace.
The partially convertible currency is currently trading at 93.81, weaker by 37 paise from its previous close of 93.44 on Tuesday. The currency touched a high and low of 93.86 and 93.6750 respectively.
