Rupee slips 41 paise against US dollar after Pak violates Indian air space

On Tuesday, the domestic unit snapped its gains of previous two sessions and closed 10 paise lower at 71.07 amid fears of escalation in geopolitical tensions.

The rupee on Wednesday slipped as much as 41 paise in the intra-day trade after Pakistani fighter jets carried out air strikes across the Line of Control in Jammu and Kashmir's Poonch and Nowshera sectors. The Pakistani aircraft violated Indian air space and were pushed back by Indian aircraft, news agency PTI reported citing senior officials. 

At 12:34 pm, the currency was trading at 71.38. Earlier, it opened 4 paise lower at 71.11 against the greenback. On Tuesday, the domestic unit snapped its gains of previous two sessions and closed 10 paise lower at 71.07 amid fears of escalation in geopolitical