India, Sept. 29 -- The rupee weakened 16 paise to 96.13 against the US dollar in early trade on Tuesday, slipping below the key 96-per-dollar mark.
The decline was driven by elevated crude oil prices and persistent foreign fund outflows. Rising US nominal and real yields are also weighing on emerging-market currencies, including the rupee.
The rupee opened at 96.03 and fell further to 96.13, compared with Monday's close of 95.97 against the US dollar.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....