The Indian rupee weakened by 17 paise to 95.35 against the US dollar in early trading on Monday, pressured by the strengthening American currency in global markets amid robust US economic data and ongoing geopolitical tensions.
Forex traders said rising crude oil prices also weighed on investor sentiment. Brent crude prices climbed after Iran launched multiple rounds of missile attacks towards Israel, raising concerns over regional stability and the prospects of sustaining ceasefire efforts.
Market participants are closely watching developments in West Asia and awaiting key economic data from the United States, which could provide fresh signals on the future interest rate policy of the US Federal Reserve, traders added.
