Rupee falls 9 paise to 94.94 against US dollar during early trade

The rupee depreciated 9 paise to 94.94 against the US dollar in early trade on Monday weighed down by elevated crude oil prices as the Israel-Lebanon conflict escalated. Forex traders said Dollar Index was nearer to 99 levels while oil prices rose to USD 93 per barrel after Israel-Lebanon conflict escalated following sharp weekly drops as Washington and Tehran discussed potential ceasefire that could eventually ease out the disruptions around Strait of Hormuz. At the interbank foreign exchange market the rupee opened at 94.93 then lost some ground and touched an early low of 94.94, registering a fall of 9 paise from its previous close. In initial trade, the rupee also touched 94.75 against the American currency. On Friday, the rupee appreciated 73 paise to close at 94.85 against the US dollar on suspected interventions by the RBI. "The rupee closed at a high as RBI was present in the market selling dollars ensuring that it did not cross 96.00 levels again. Though there were outflo

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