The Indian rupee, facing downward pressure, depreciates by 6 paise against the US dollar to open at 83.58, attributed to the negative sentiment in the domestic stock market and the surge in global crude oil prices. Despite an initial dip, the rupee shows resilience by touching a high of 83.46 against the dollar in early trade. Geopolitical tensions escalate as Brent crude futures soar to USD 89.25 per barrel after Iran’s nuclear weapons threat, adding further strain to the currency market.
Meanwhile, Asian currencies exhibit a slight decline, reflecting growing concerns over the geopolitical situation. In the domestic equity market, the BSE Sensex plunges by 489.77 points, while the NSE Nifty drops by 144.35 points, intensifying the risk-off sentiment among investors. Foreign Institutional Investors (FIIs) continue to be net sellers in the capital markets, offloading shares worth Rs 4,260.33 crore, according to exchange data.
