Rupee slips 6 paise to 96.31 against US dollar in early trade

The Indian rupee slipped 6 paise to 96.31 against the US dollar in early trade, weighed down by continued foreign institutional outflows despite a positive opening in domestic equity markets. Geopolitical tensions intensified as the US expanded strikes on Iran, with Iran retaliating against Bahrain and Kuwait, pushing Brent crude near USD 85 per barrel and stoking concerns about the Strait of Hormuz. FIIs offloaded equities worth Rs 735.83 crore on Wednesday, while Sensex rose 185.77 points to 77,400.40 and Nifty gained 42.15 points to 24,132.60.