India, July 14 -- The Indian rupee weakened by 48 paise to 96.16 against the US dollar in early trade on Tuesday, as escalating geopolitical tensions weighed on Asian currencies and boosted demand for safe-haven assets.
At the interbank foreign exchange market, the rupee opened at 95.95 before slipping further to 96.16, marking a decline of 48 paise from its previous close.
According to forex traders, the domestic currency came under pressure as crude oil prices surged amid renewed geopolitical tensions, while investors shifted towards the US dollar, increasing demand for the safe-haven currency.
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