The rupee stayed weak, sliding 11 paise to 95.84 against the US dollar in early trade on Thursday, as geopolitical uncertainties 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.
The rupee 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 compare
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