Indian rupee weakens against dollar on Wednesday
The rupee ended at 94.80 (Provisional), weakened by 12 paise from its previous close of 94.68 on Tuesday
Indian rupee weakened against the U.S. dollar on Wednesday amid surge in global energy prices. The Brent crude oil prices have surged to trade near $115 a barrel after reports indicated that US President Donald Trump asked aides to prepare for an extended blockade of Iran. The extension is aimed at further restraining Iran from exporting its oil. Besides, the persistent selling by foreign institutional investors (FIIs) weighed on rupee. FIIs were the net sellers on Tuesday’s session, offloading securities worth Rs 2,103.74 crore. On the global front, the South Korean won has weakened against the dollar on Wednesday as investors remained cautious ahead of the US Federal Reserve policy decision.
Finally, the rupee ended at 94.80 (Provisional), weakened by 12 paise from its previous close of 94.68 on Tuesday. The currency touched a high and low of 94.86 and 94.70 respectively.
