Rupee Falls 20 Paise to 95.43 Against US Dollar Amid Gulf Tensions and High Oil Prices

New Delhi, May 5 (BNP): Indian rupee weakened in early trade on Tuesday, falling 20 paise to 95.43 against the US dollar amid heightened global risk sentiment.

Currency traders attributed the decline to renewed geopolitical tensions following fresh military exchanges between the United States and Iran in the Gulf region. The developments have triggered risk aversion in global markets, prompting investors to move toward safe-haven assets, particularly the US dollar.

Adding to the pressure, Brent crude oil prices remained elevated near $113 per barrel, continuing to weigh on oil-importing economies such as India.

At the interbank foreign exchange market, the rupee opened at 95.30 and slipped further during early deals before settling at 95.43 against the dollar, marking a decline from its previous close.