The rupee stayed weak, sliding 11 paise to 95.84 against the US dollar in early trade on Thursday, as <a href="https://www.mid-day.com/news/world-news/article/donald-trump-says-us-iranian-officials-met-shortly-after-warning-he-may-annihilate-iran-23651385" target="_blank" rel="none noopener">geopolitical uncertainties</a> led to a sharp surge in crude oil prices and pushed US bond yields as well as the greenback higher.
Forex traders said the inflow of foreign capital failed to support the local currency due to the selling pressure in the domestic equity market and a strengthening American currency.
At the interbank foreign exchange market, the rupee opened at 95.84 against the American currency and stayed under pressure, registering a loss of 11 paise from its previous closing level.
<a href="https://www.mid-day.com/business/business-news/article/rupee-gains-5-paise-to-9557-against-us-dollar-as-crude-oil-prices-fall-below-usd-99-per-barrel-23651418" target="_blank" rel="none noopener">The rupee</a> ended Wednesday's session 11 paise lower at 95.73 against the US dollar, a day after appreciating 16 paise.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, traded at 100.87, up 0.06 per cent.
Brent crude futures, the global oil benchmark, were trading lower by 0.97 per cent but remained elevated at USD 102.08 per barrel compared to the roughly USD 72 per barrel level from late February before the Iran war.
According to analysts, oil prices that began stabilising in the last few sessions rose again past USD 100 a barrel due to a lack of diplomatic progress over the West Asia peace after the US and Iranian officials met on the sidelines of the UN General Assembly in New York.
President Donald Trump, during an address to the annual gathering, <a href="https://www.mid-day.com/news/world-news/article/trump-at-un-general-assembly-us-president-warns-iran-could-face-annihilation-if-no-peace-deal-is-reached-23651338" target="_blank" rel="none noopener">threatened that the US might "annihilate" the Islamic Republic</a> if a deal couldn't be made.
On the domestic equity market front, Sensex declined 506.43 points or 0.68 per cent to 74,321.82, while the Nifty fell 181.00 points or 0.77 per cent to 23,266.15.
Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,617.45 crore on a net basis on Wednesday, according to exchange data.
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The Indian currency opened at 95.84 against the US dollar and stayed under pressure, registering a loss of 11 paise from its previous closing 

Rupee weakens 11 paise to 95.84 against US dollar amid elevated crude oil prices

NSE stock makes muted debut; commands market valuation of Rs 4.53 lakh crore

At the interbank foreign exchange market, the rupee opened at 95.84 against the American currency and stayed under pressure, registering a loss of 11 paise from its previous closing level

Rupee falls 11 paise to 95.84 against US dollar amid elevated crude oil prices

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Home / Business / Business News / Article / Rupee falls 11 paise to 95.84 against US dollar amid elevated crude oil prices