New Delhi, May 27 -- The Indian rupee weakened by 7 paise to open at 95.75 against the US dollar on Wednesday, 27 May, as optimism over a near-term resolution to the Middle East conflict faded, keeping foreign portfolio and importer-related flows tilted against the domestic currency.

Investor sentiment turned cautious after Iran accused the United States of violating a ceasefire by carrying out strikes near the strategically important Strait of Hormuz, a development that could complicate efforts to end the three-month-long conflict.

Although Brent crude oil prices eased slightly during Asian trading hours, they remained close to the $100-per-barrel mark, continuing to pressure oil-importing economies and weighing on regional currencies ...