Rupee hit by geopolitical jitters, volatility jumps to two-year peak

The rupee ended 0.3% lower at 85.2625 after swinging between 84.95 and 85.3875.

Geopolitical tensions with Pakistan pushed 1-month implied volatility to a 2-year high of 5.5%.

Regional currencies like the yuan and ringgit strengthened on easing global trade concerns.

Traders remain cautious amid military operation rumors and upcoming US economic data.