Rupee weakens against US dollar in early trade on Thursday
Date: 13-08-2026The Indian rupee weakened against the US dollar in early trade on Thursday, driven by elevated crude oil prices and geopolitical uncertainty as the standoff between United States and Iran does not seem to be coming to an end with Iran warning of keeping the Strait of Hormuz closed till 2029 while the US President saying that the Hormuz is in US's command. Furthermore, persistent dollar demand from hedgers also continued to pressure the currency, while near-continuous intervention by the Reserve Bank of India limited its downside. Meanwhile, Foreign institutional investors (FIIs) offloaded equities worth Rs 1,002.50 crore on a net basis on Wednesday, exchange data showed.
The partially convertible currency is currently trading at 95.36, weaker by 3 paise from its previous close of 95.33 on Wednesday. The currency touched a high and low of 95.40 and 95.35 respectively.