Is there any halachic reason that a man may not wear a wedding band (ring)? Possible reasons to forbid it would include beged isha and chukas hagoyim.
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Rabbi Moshe Feinstein was strongly opposed to a two-ring ceremony in which he says "harei at mekudeshet li" and she says "harei ata mekudash li", but in a later responsum -- EH4:32b (addressing R' Elyakim "Getzel" Ellinson, who was questioning men wearing bands and Rav Moshe defending the practice) he clarifies that for a man to simply wear a band is not prohibited; as for "chukas akum" - it's neither pagan nor risque, nor is it "senseless" as some people feel it's decorative and it's a sign this guy is married. ("Senseless imitation of the non-Jews" is actually his critique of two-ring ceremonies; Rav Moshe says we don't worry that if Shmerel is seen wearing a wedding band, people will suspect him of having had a two-ring ceremony!)
Rav Moshe says for a married man to wear a wedding band is something to the effect of "perhaps distasteful for someone G-d fearing", i.e. the mildest of mildest preferences against it; but staunchly proclaiming that those who do are halachically justified.
From the Mishna Brurah 161:19 writes that women who are makpid to take off her ring before doing work holds she needs to take it off before washing.He then writes but men who don't take their rings off don't have to since they leave them on unless it has an expensive stone which he would take off.From here it seems like it was normal to wear a ring.
Regarding a wedding band I think it is a machlokes.I think Reb Moshe was against exchange of rings ceremony by weddings.