Rupee weakens against US dollar in early trade on Wednesday

The Indian rupee weakened against US dollar in early trade on Wednesday, weighed down by surging Brent crude prices amid escalating US-Iran tensions. US Central Command said ‌that its forces destroyed five Iranian oil tankers on September 8, 2026, after Iranian forces launched ballistic missiles at a US Navy warship. Investors are cautiously awaiting upcoming US and Indian CPI reports as well as the FOMC meeting scheduled for September 15-16, 2026. Meanwhile, Foreign Institutional Investors (FIIs) sold equities worth Rs 123.19 crore on a net basis on Tuesday, exchange data showed. However, a softer American currency cushioned the fall.

The partially convertible currency is currently trading at 95.22, weaker by 48 paise from its previous close of 94.74 on Tuesday. The currency touched a high and low of 95.2275 and 94.80 respectively.

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