India, Aug. 13 -- The rupee depreciated 7 paise to 95.40 against the U.S. dollar in early trade on Thursday, Aug 13 pressured by elevated crude oil prices and lingering geopolitical risks.

Forex traders said investor sentiment remains fragile, as the standoff between the U.S. and Iran does not seem to be nearing an end, with Iran warning of keeping the Strait of Hormuz closed till 2029, while the U.S. president said Hormuz was under U.S. command.

At the interbank foreign exchange market, the rupee opened at 95.40, registering a fall of 7 paise from its previous close. On Wednesday, the rupee closed at 95.33 against the American currency.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currenci...