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Rupee weakens against US dollar in early trade on Friday
Oct-23-2026

The Indian rupee weakened against the US dollar in early trade on Friday amid elevated Brent crude prices following escalating tensions in the Middle East and reports that the US was considering plans to attack Iran after the US midterm elections in November. Moreover, global dollar strength, and foreign fund outflows also dampened rupee sentiment. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,458.70 crore on a net basis on Thursday, according to exchange data. Meanwhile, investors were highly focused on the upcoming Federal Reserve meeting scheduled for October 27-28, 2026, at the conclusion of which the Fed is expected to announce its interest rate decision.

The partially convertible currency is currently trading at 94.92, weaker by 11 paise from its previous close of 94.81 on Thursday. The currency touched a high and low of 94.9350 and 94.77 respectively.

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