2026-05-12 01:18:38 pm | Source: Accord Fintech
Indian rupee weakens to fresh record low of 95.63 against US dollar in early trade
The Indian rupee weakened to a fresh record low of 95.63 against the US dollar in early trade on Tuesday tracking weakness in Asian currencies after US President Donald Trump said the ceasefire with Iran was on life support with hopes for a deal with the country fading, triggering a surge in crude oil prices to over $105 per barrel. Moreover, firm US dollar and steep foreign fund outflows have also weighed on rupee sentiments. Foreign Institutional Investors offloaded equities worth Rs 8,437.56 crore on Monday, exchange data showed. Investors also cautiously awaited US inflation data and a meeting between US President Donald Trump and Chinese President Xi Jinping later this week.
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