Rupee falls 9 paise to 94.55 against US dollar during early trade ...Middle East

Economy by : (Business Standard) -
The rupee depreciated 9 paise to 94.55 against the US dollar in early trade on Thursday pressured by the broad strength of the American currency in the overseas market. Forex traders said a positive domestic market and softening of crude oil prices cushioned the downside. At the interbank foreign exchange market, the rupee opened at 94.36, then fell to 94.55 against the US dollar, registering a fall of 9 paise from its previous close. On Wednesday, the rupee stayed firm for the second straight session to settle 29 paise higher at 94.46 against the US dollar. "Forward-looking markets are aggressively erasing the geopolitical risk premium built up from the US-Israel conflict with Iran, as a Democratic-controlled Congress is expected to severely constrain funding for military escalation and push for near-term diplomatic negotiations," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Meanwhile, the dollar index, which gauges the greenbac

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