India, April 24 -- The Indian rupee extended its losing streak for the fifth consecutive session, falling 24 paise to 94.25 against the US dollar in early Friday trade. The decline was driven by volatile crude oil prices, a stronger US dollar, and fading hopes around West Asia peace negotiations.
Market participants noted that although a ceasefire remains in place between the United States and Iran, uncertainty persists over vessel movement through the Strait of Hormuz. Tensions escalated further after the US military reportedly seized another Iranian oil tanker on Thursday, adding pressure to global fuel prices.
Additionally, US President Donald Trump has directed the military to take strict action against Iranian boats suspected of depl...