Rupee Closes 6 Paise Lower At 91.70 Against US Dollar Amid Range-Bound Trade, Middle East Tensions

The Indian rupee closed at 91.70 against the US dollar, marking a decline of six paise amid a largely range-bound trading session. The rupee opened at the previous day's closing rate of 91.64 and fluctuated within a narrow band, hitting a peak of 91.54 and a low of 91.78 during the trading day. Market analysts attribute this subdued movement to ongoing geopolitical tensions in the Middle East, which have heightened investor caution. The rupee's performance reflects the broader trends in currency markets, where traders are closely monitoring global developments and economic indicators. As the currency market navigates these uncertainties, it remains sensitive to external factors and domestic economic conditions, underscoring the challenges faced by the rupee in achieving stability against the dollar.