India, Oct. 28 -- The Indian rupee weakened by 21 paise to 88.40 against the US dollar in early trade on Tuesday, pressured by strong month-end dollar demand from importers and a rise in global crude oil prices.
At the interbank foreign exchange market, the domestic currency opened at 88.34 and slipped to 88.40 against the greenback, down 21 paise from its previous close.
According to forex traders, investors are closely monitoring the US Federal Reserve's policy decision scheduled for Wednesday for further direction. Markets are currently pricing in a 97.8% probability of a 25-basis-point rate cut, with another expected in December, they added.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....