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Rupee weakens against dollar on Wednesday
Jul-08-2026

Indian rupee has weakened against the U.S. dollar on Wednesday amid escalating tensions in West Asia after U.S. launched strikes on Iran, while Iran hit back with strikes on Bahrain and Kuwait. Following the clashes, the U.S. President Donald Trump said that the memorandum of understanding signed with Iran to end the conflict was ‘over’. He added that he didn't want to engage with Iran. His comments have spiked up global crude prices with Brent crude oil prices trading near $79 a barrel mark. Further, traders overlooked United Nations Trade and Development (UNCTAD) report indicating foreign direct investment (FDI) inflows into India increased by 44% to $39 billion in 2025. On the global front, the British pound has weakened against the U.S. dollar on Wednesday as rising crude oil prices sparked concerns of high inflation.

Finally, the rupee ended at 95.48 (Provisional), weakened by 52 paise from its previous close of 94.96 on Tuesday. The currency touched a high and low of 95.61 and 94.98 respectively.

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