The Indian rupee gained 16 paise against the US dollar in early trading on Tuesday, supported by strong domestic economic fundamentals despite lingering geopolitical concerns. The local currency opened at 95.16 per dollar and advanced to 95.03 during the initial session, compared to its previous close.
Market participants noted that the USD/INR pair started the day on a positive footing amid a mild risk-off environment. However, uncertainty surrounding developments in West Asia continues to keep investors cautious, with potential implications for global financial markets and crude oil prices.