The rupee depreciated 17 paise to 92.71 against U.S. dollar in early trade on Thursday (April 9, 2026) as the fragile ceasefire and Iran’s threat to step out of the talks if Israel kept bombing Lebanon kept investors wary.

Forex traders said markets are in a wait-and-watch mode rather than strong directional positioning as the situation in West Asia remains fragile.

Geo-Political uncertainty was still high amid Iran’s threat to step out of the talks if Israel kept bombing Lebanon, keeping investors wary of the opening of the Strait of Hormuz.