Rupee Soars as Trump Calls Off Iran Strikes, Crude Prices Tumble

The Indian Rupee surged to its highest level in five days on Monday, gaining 31 paise to 95.12 against the US Dollar in early trade.

The rupee's strength was driven by falling global crude oil prices and a softer greenback, following US President Donald Trump's decision to hold off strikes against Iran.

FII inflows, rising forex reserves, and RBI support further bolstered the local currency, according to forex traders.

Brent crude futures fell 5% to $83.66 per barrel after Trump delayed military action on Iran, while the dollar index traded 0.17% lower at 99.74.