India, June 11 -- The Indian rupee weakened in early trade on Thursday, slipping 32 paise to 95.57 against the US dollar as elevated crude oil prices and ongoing tensions between the US and Iran weighed on market sentiment.
The domestic currency faced additional pressure from sustained foreign institutional investor (FII) outflows, weakness in local equity markets, and strength in the US dollar. The rupee opened at 95.55 in the interbank forex market and extended losses to touch 95.57 against the greenback.
In the previous session, the rupee had gained 16 paise to settle at 95.25 per dollar, supported by suspected intervention from the Reserve Bank of India aimed at containing volatility in the foreign exchange market.
Published by HT Di...