India, May 8 -- The Indian rupee fell 45 paise to 94.67 against the US dollar in early trade on Friday, pressured by a sharp rise in crude oil prices amid renewed geopolitical tensions in the Middle East.
Brent crude climbed back above USD 101 per barrel after reports of fresh exchanges between US and Iranian forces near the Strait of Hormuz, raising concerns over global oil supply disruptions.
Forex market participants said investor sentiment remained cautious after Iran accused the US of breaching the ceasefire following retaliatory strikes in civilian areas and around the Strait of Hormuz. Meanwhile, US President Donald Trump stated that the ceasefire agreement continued to remain in force.
Brent crude had earlier slipped below USD 98...