Indian rupee witnessed mild weakness against the U.S. dollar on Wednesday as renewed tensions between United States-Iran and delays in negotiations sparked caution among investors. Further, capital outflow from foreign institutional investors (FIIs) weighed on rupee. FIIs were the net sellers on Tuesday’s session, offloading securities worth Rs 2,407.87 crore. However, some support came as brent crude oil prices retreated to trade near $97 a barrel. Moreover, market participants were sanguine after India and the US firmed up a key framework for cooperation in ensuring steady supplies of critical minerals. On the global front, the South Korean won has strengthened against the U.S. dollar on Wednesday as the global AI-driven semiconductor rally boosted demand for Korean assets.
Finally, the rupee ended at 95.74 (Provisional), weakened by 4 paise from its previous close of 95.70 on Tuesday. The currency touched a high and low of 95.79 and 95.60 respectively.
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