Indian rupee weakens to 94.27 against US dollar in early trade Monday, marking its fifth consecutive session of decline. The depreciation of 11 paise reflects persistent dollar demand and a shift toward safe-haven assets amid geopolitical uncertainty. Forex experts attribute the weakness to multiple factors including RBI's relaxed currency stance, rising oil prices driven by global tensions, and foreign institutional investors pulling funds from markets. Brent crude climbed 1.16 percent to $106.55 per barrel, adding pressure on the rupee. However, India's forex reserves remain robust at $703 billion as of April 17. Analysts suggest the rupee may find support around 92.80 to 93.20 zone, with the near-term trading range expected between 93.50 and 94.50. Despite softer dollar signals and diplomatic hopes, uncertainty continues dominating market sentiment and investor flows.
