India, Oct. 26 -- The Indian rupee weakened by 5 paise to 94.98 against the US dollar in early trade on Monday, pressured by elevated crude oil prices and rising geopolitical tensions in the Middle East.
The domestic currency opened at 94.92 at the interbank foreign exchange market before declining to 94.98, compared with its previous closing level.
Forex market participants attributed the rupee's decline to heightened risk aversion across global markets amid escalating Middle East tensions. However, a softer US dollar and easing US Treasury yields helped limit the currency's losses.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....