The Indian rupee weakened by 11 paise to 94.95 against the US dollar in early trade on Monday, amid persistent geopolitical tensions in the Middle East.
Forex market participants noted that elevated Brent crude prices, hovering near USD 108 per barrel, continue to exert pressure on oil-importing economies like India.
Additionally, sustained foreign capital outflows and rising geopolitical uncertainties further weighed on investor sentiment, contributing to the currency’s decline.