The Indian rupee weakened on Wednesday to log its worst single-day decline in a month as worries over an escalation in geopolitical conflict between India and Pakistan hit sentiment alongside a fall in Asian peers.

The Indian rupee depreciated by 42 paise, closing at 84.77 against the US dollar after military strikes by India on terrorist camps in Pakistan heightened tensions. Despite forex volatility and geopolitical uncertainties,

There have been initial market reactions to India's attack on Pakistan. Bloomberg reports that Indian stocks recovered after an initial decline, while the rupee weakened slightly and bond yields dipped by two basis points.