India, April 7 -- The Indian rupee declined by 17 paise to 93.07 against the US dollar in early Tuesday trade, pressured by continued foreign fund outflows, a strong dollar, and elevated crude oil prices amid ongoing geopolitical tensions.
Forex market participants noted that the USD/INR pair remains sensitive to developments in the US-Iran conflict, as any escalation could further drive up crude oil prices and weigh on the rupee.
At the interbank forex market, the rupee opened at 93.05 and slipped further to 93.07, marking a decline of 17 paise from its previous close.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....