<h1>Currency depreciation pressures rupee as safe haven dollar demand and higher oil prices weigh on domestic markets.</h1> Rupee depreciation in early trade was attributed to safe haven demand, geopolitical uncertainty, risk off sentiment, elevated crude oil prices, and strong dollar demand from oil importers; mixed signals from the US central bank (policy rates held with limited projected cuts) supported dollar strength while domestic equities showed modest gains and net foreign institutional purchases.