Indian rupee weakened against the U.S. dollar on Wednesday as foreign investors continued to pull out capital from Indian markets. The foreign institutional investors were the net sellers on Tuesday’s session, offloading securities worth Rs 8,009.56 crore. Besides, investors opted to take cautious stance as the survey by Ministry of Statistics & Programme Implementation (MoSPI) has showed that the private sector’s capital expenditure (capex) on acquisition of new assets is likely to decline by 16.5% to Rs 9.55 lakh crore in fiscal year 2026-27 (FY27). Further, high global crude oil prices have weighed on rupee. The brent crude oil prices continued to trade near the $100 per barrel mark amid West Asia conflict. On the global front, the British pound has traded firm against the U.S. dollar on Wednesday to trade near $1.34 amid hopes of de-escalation in the West Asia conflict and in-line February’s inflation data.
Finally, the rupee ended at 93.99 (Provisional), weakened by 23 paise from its previous close of 93.76 on Tuesday. The currency touched a high and low of 94.13 and 93.86 respectively.
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