The Indian rupee moved within a limited range against the US dollar during early trading on Thursday, as concerns over foreign fund outflows and fading hopes of a US-Iran agreement kept market sentiment cautious.
Currency market participants noted that continued tensions in West Asia remain a key concern for India due to its significant dependence on imported energy. The uncertainty has supported the dollar and limited gains in the domestic currency.
In the interbank foreign exchange market, the rupee opened at 95.70 against the US dollar and strengthened marginally to 95.69 in early deals, up 7 paise from its previous close.