Rupee falls 7 paise to 95.40 against US dollar amid FII selling, geopolitical risks

The Indian Rupee weakened seven paise against the US dollar in early trade. Elevated crude oil prices and geopolitical uncertainty impacted investor sentiments significantly. The Strait of Hormuz standoff between the US and Iran added to market fragility. Foreign institutional investors were net sellers in the equity market on Wednesday. Indian stock markets also traded lower in early deals on Thursday.