New Delhi, July 16 -- The Indian rupee opened flat at 96.25 against the US dollar on Thursday, 16 July, as elevated crude oil prices and weakening market sentiment continued to weigh on the domestic currency.

The rupee has remained under pressure after renewed US-Iran hostilities triggered another rally in crude oil prices, raising concerns over India's import bill and inflation outlook.

So far this month, the local currency has declined 1.7% and is edging closer to its record low of 96.96 per US dollar, touched in May.

According to a Reuters report, the support the rupee had received from the Reserve Bank of India's (RBI) recent measures aimed at boosting dollar inflows has largely dissipated, leaving the currency increasingly exposed...