The Indian rupee started the trading week on a weaker note. It slipped by 8 paise against the US dollar during early morning trade on Monday.
Rupee's Movement Against the Dollar
The domestic currency opened lower and traded at 90.98 per US dollar. This represents a decline from its previous close. The rupee's fall reflects ongoing pressure in the foreign exchange market.
Factors Behind the Decline
Forex traders point to several key factors driving the rupee's weakness. Rising geopolitical uncertainty is creating a cautious environment for investors. Renewed expansionary signals from the United States have also played a significant role.
These developments have increased risk aversion among global market participants. Emerging market currencies, including the Indian rupee, are feeling the impact. Traders are closely monitoring the situation for further cues.
Market Sentiment and Outlook
The overall sentiment in the forex market remains cautious. The combination of global factors is keeping the rupee under pressure. Analysts expect volatility to continue in the near term.
Investors are watching for any new developments that could influence currency movements. The rupee's performance against the dollar will depend on multiple factors going forward.
