The Indian rupee depreciated 6 paise to 96.42 against the US dollar in early trade on Tuesday as heightened geopolitical uncertainty put pressure on most Asian currencies, including the rupee. The rupee came under pressure from a combination of factors -- crude oil prices climbed on renewed geopolitical tensions, and demand for the US dollar increased as investors moved toward safe-haven assets. The dollar index traded near 101 after rising for three straight sessions, as ongoing hostilities between the US and Iran drove oil prices higher, reviving concerns about inflation and interest rate hikes. At the interbank foreign exchange market, the rupee opened at 96.41 then touched 96.42 registering a fall of 6 paise from its previous close. Indian shares were also muted in early trade on Tuesday amid persistent foreign portfolio investor selling and escalating tensions between the United States and Iran. The benchmark BSE Sensex was down 88 points, or 0.1 percent, at 77,622 while the broader NSE Nifty index slid 12 points to 24,226.
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