The Indian rupee edged against the American currency in early trade on Tuesday, as elevated crude prices and importer dollar demand weighed on the currency. The RBI’s continued intervention through state-run banks helped prevent a sharper decline, keeping USD/INR in a narrow range despite weakness in Asian equities and renewed geopolitical uncertainty around Iran. INR opened at Rs 95.74 per dollar but recovered to a high of 95.69 so far during the day. Yesterday, the counter ended at 95.70. Local shares opened lower on Tuesday, extending losses from the previous session after U.S. Treasury Secretary Scott Bessent announced a wave of new sanctions to isolate the Iranian regime and warned that countries and companies that help Iran move or hide money could face U.S. actions and potentially lose access to the U.S. dollar system. The BSE SENSEX is trading down by 234.41 points (0.30%) at 77,134.70, while the NSE NIFTY 50 has dropped 97.60 points (0.40%) to 24,121.45.
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