Rupee Slips to 90.24 Against Dollar Amid Venezuela Tensions, Geopolitical Concerns

• Indian rupee opened marginally weaker at 90.24 against the US dollar on Monday, slipping 4 paise from its previous close of 90.20.
• Geopolitical tensions following US intervention in Venezuela, including the capture of President Nicolás Maduro, fueled demand for the greenback.
• The dollar index rose 0.36% to 98.50, and most Asian currencies were weaker, adding pressure on the rupee.
• Despite softer crude oil prices and FIIs being net buyers, corporate dollar demand and limited exporter hedging kept the rupee under strain.
• RBI's forex reserves increased to $696.61 billion, but the rupee faces continued pressure until progress on a US-India trade agreement.

Why It Matters: Rupee weakens due to global tensions and strong dollar, with future dependent on trade talks and US data.