India, July 20 -- The Indian rupee weakened by 12 paise to 96.42 against the US dollar in early trade on Monday, pressured by a sharp rise in crude oil prices and increased demand for the greenback amid escalating tensions in West Asia.
The domestic currency opened at 96.53 per US dollar, compared with its previous close of 96.30, before recovering some losses to trade at 96.42. Market participants also attributed the rupee's weakness to continued foreign capital outflows from the domestic equity markets.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....