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Rupee Drops 17 Paise As Gulf Tensions Boost Oil Prices

The Indian rupee weakened by 17 paise to open at 95.35 against the US dollar today. It followed Iran's missile attacks on Israel over the weekend, which pushed Brent crude prices up 3.43% to $96.28 per barrel and affected investor confidence. The setback partially erased Friday's 56-paise surge, driven by RBI measures aimed at boosting foreign inflows.