India, May 27 -- The Indian rupee depreciated by 8 paise to 95.78 against the US dollar in early Wednesday trade, pressured by a surge in crude oil prices following fresh US military strikes that dimmed hopes of a near-term US-Iran peace agreement.
According to forex market experts, escalating tensions between the US and Iran have increased demand for the dollar as a safe-haven asset. Meanwhile, Brent crude continued to trade firm near the USD 98 mark amid growing geopolitical uncertainty and heightened conflict concerns in West Asia.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....