Rupee Depreciates Amid Geopolitical Risks

The Indian rupee depreciated by 9 paise to 95.17 against the US dollar in early trade on Thursday, according to the interbank foreign exchange market.

This decline comes despite lower crude oil prices, which had provided support to the rupee in previous days.

However, lingering geopolitical risks have offset this positive trend, leading to a slight depreciation of the rupee.

Amit Pabari, MD of CR Forex Advisors, noted that the rupee is currently caught between encouraging diplomatic headlines and ongoing geopolitical tensions.

He also pointed out that if positive developments around Hormuz occur, it could help the rupee revisit the 94.80-95.00 zone.