India, May 19 -- The Indian rupee declined 18 paise to 96.38 against the US dollar in early Tuesday trade, pressured by a firm greenback and rising US Treasury yields amid ongoing tensions between the US and Iran.
Currency market participants said the rupee continues to face pressure from elevated crude oil prices and concerns over potential disruptions in the Strait of Hormuz, a key route for trade with Gulf nations.
In the interbank forex market, the domestic currency opened at 96.38 against the dollar, down 18 paise compared to its previous close.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....