The Indian rupee weakened on Wednesday, closing at 86.4775 against the U.S. dollar. Corporate hedging and elevated oil prices contributed to the decline. Geopolitical tensions in the Middle East also weighed on the currency. Market participants are awaiting the U.S. Federal Reserve’s policy decision. The central bank is expected to maintain current rates.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets