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Rupee weakens marginally against US dollar in early trade on Wednesday

02 Sep 2026 Evaluate
The Indian rupee weakened marginally against the US dollar in early trade on Wednesday, amid escalating US-Iran tensions and higher Brent crude prices above $95/barrel. Moreover, rising US Treasury yields and expectations of a Federal Reserve rate hike added pressure on the rupee. However, the RBI’s intervention, with flow-related dollar selling by foreign banks, provided some support and limited further falls in the rupee. Foreign institutional investors (FIIs) bought equities worth ?1,143.38 crore on a net basis on Tuesday, exchange data showed.

The partially convertible currency is currently trading at 94.96, weaker by 1 paisa from its previous close of 94.95 on Tuesday. The currency touched a high and low of 94.97 and 94.90 respectively.