India, July 1 -- The Indian rupee weakened by 19 paise to 94.75 against the US dollar in early trade on Wednesday, pressured by the strength of the greenback in overseas markets.
According to forex traders, the Reserve Bank of India (RBI) is expected to utilise any fresh foreign capital inflows to replenish its foreign exchange reserves rather than allowing the rupee to appreciate significantly.
Market sentiment also remained cautious due to lingering uncertainty over the progress of US-Iran peace negotiations, with geopolitical tensions continuing to support a risk premium in the currency market.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....