The Indian rupee is likely to sustain losses in opening trades on Wednesday tracking dollar strength overseas. The dollar index witnessed a good rebound well above 98 mark as FOMC due for the week will be closely monitored to seek forward guidance on Fed rate path amid looming global geopolitical and tariff uncertainties. Yesterday, the Indian rupee declined 19 paise to close at 86.24 against the greenback weighed down by a rise in global crude oil prices amid the escalating Iran-Israel war, and a strengthening dollar. This marked around two-month low level for INR against the US dollar. Weak sentiments in the domestic equity markets and FII outflows put further pressure on the rupee. Indian shares ended Tuesday's session modestly lower as the conflict between Israel and the Islamic republic raged and U.S. President Donald Trump called for the immediate evacuation of Tehran, signaling potential escalation of the conflict. The benchmark 30-share BSE Sensex dropped 212.85 points, or 0.26 percent, to 81,583.30 while the broader NSE Nifty index closed at 24,853.40, down 93.10 points, or 0.37 percent, from its previous close.