Rupee Weakens by 15 Paise Against US Dollar Amid West Asia Tensions

The rupee weakened by 15 paise to 95.56 against the US dollar in early trading on Wednesday, weighed down by a surge in crude oil prices following fresh tensions in West Asia. Forex traders said the USD/INR pair opened on a negative note after US President Donald Trump said Iran was responsible for downing an American military helicopter near the Strait of Hormuz and that the US "must" respond to the attack. At the interbank foreign exchange market the rupee opened at 95.52, then lost ground and touched 95.56 in initial trade, registering a fall of 15 paise from its previous close. On Tuesday, the rupee appreciated 20 paise to close at 95.41 against the US dollar. According to traders, the Indian rupee is trading with a negative bias and remains under severe pressure due to renewed geopolitical tensions in West Asia.