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Indian rupee weakens against dollar on Tuesday

24 Mar 2026 Evaluate

Indian rupee weakened against the U.S. dollar on Tuesday amid persistent foreign capital outflows. The foreign institutional investors were the net sellers on Monday’s session, offloading securities worth Rs 10,414.23 crore. Besides, high global crude oil prices have weighed on rupee. Despite cooling off from its recent surge, the Brent crude oil prices continued to trade above the $100 per barrel mark amid West Asai conflict. Moreover, investors took a cautious approach after a report that Indian private sector activity expanded in March with weakest pace since October 2022, with output growth easing across both manufacturing and services as the energy shock unfolds. The HSBC Flash India Manufacturing PMI declined from 56.9 in February to a four-and-a-half-year low of 53.8 in March, while HSBC Flash India Services PMI Business Activity Index fell to 57.2 in March from February’s final reading of 58.1. On the global front, the euro has weakened against the U.S. dollar on Tuesday to trade below $1.16 as weaker-than-expected PMI data and ongoing West Asai tensions raised fears of an energy-driven economic shock.

Finally, the rupee ended at 93.75 (Provisional), weakened by 22 paise from its previous close of 93.53 on Monday. The currency touched a high and low of 93.90 and 93.66 respectively.

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