Indian rupee weakened against US dollar on Tuesday weighed by higher crude oil prices amid fading hopes of peace deal between US and Iran after US President Donald Trump ruled out an extension of the ceasefire arrangement. The domestic currency was also pressured by the continued foreign capital outflows. Foreign institutional investors were the net sellers on Monday’s session, offloading securities worth Rs 2,535.10 crore. Further, investors remained cautious as India Ratings & Research (Ind-Ra) projected India's Gross Domestic Product (GDP) growth to slow down to 6.8% in the current fiscal year (FY27), as against 7.6% in the previous year. On the global front, British pound has weakened against US dollar on Tuesday as softer labour market raised expectations that Bank of England will keep rates unchanged.
Finally, the rupee ended at 95.73 (Provisional), weakened by 12 paise from its previous close of 95.61 on Monday. The currency touched a high and low of 95.73 and 95.64 respectively.
