Indian rupee weakens to 91.89 against US dollar amid FII outflows and Middle East tensions. The currency fell 4 paise in early trade Wednesday, though losses were limited by a weaker greenback and declining global crude oil prices. The Reserve Bank of India actively defended the 92.00 level, demonstrating its commitment to preventing further depreciation. Traders expect the rupee to trade within the 91.50-92.10 range today. Meanwhile, domestic markets showed weakness with Sensex dropping 96 points and Nifty declining 23 points. Foreign investors pulled out 4,672 crore rupees from equities on Tuesday, adding pressure to the currency. Brent crude fell 0.38 percent to 87.47 per barrel, while the dollar index weakened slightly to 98.78, providing some relief to the rupee amid broader market volatility.
