Rupee slips 7 paise to 85.40 vs dollar on FII outflows, geopolitical tension

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The Indian Rupee declined seven paise against the US dollar during early trading on Thursday. Rising crude oil prices and ongoing geopolitical uncertainty weighed heavily on investor confidence. Tensions in the Strait of Hormuz stemming from a US-Iran standoff further unsettled financial markets. Foreign institutional investors turned net sellers in Indian equity markets on Wednesday, adding to the pressure. Domestic stock indices also opened lower on Thursday amid the broader risk-off sentiment.

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