India, July 6 -- The Indian rupee weakened by 10 paise to 95.28 against the US dollar in early trade on Monday, pressured by the broad-based strength of the greenback in overseas markets.
According to forex traders, any fresh foreign capital inflows are likely to be utilised by the Reserve Bank of India (RBI) to rebuild its foreign exchange reserves, limiting excessive appreciation in the domestic currency. Market sentiment also remained cautious amid uncertainty surrounding the progress of US-Iran peace talks, which continued to support a geopolitical risk premium.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....