Rupee Loses Ground Against Dollar Amid West Asia Conflict

The Indian rupee has depreciated against the US dollar in early trade on Monday. It fell to 95.95 against the greenback, a loss of 20 paise from its previous closing level.

This decline is attributed to the strengthening of the US dollar and ongoing foreign fund outflows amid the West Asia conflict. Elevated global crude oil prices are also exerting pressure on the rupee.

The Brent crude futures have been trading higher, reaching USD 106.81 per barrel in futures trade. This increase poses a threat to India's import bill and foreign exchange reserves.