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Commodities

Rupee Tumbles 28 Paise Amid Crude Oil Price Surge

Guavy AI Editorial Team
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Oil
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The Indian rupee depreciated by 28 paise to close at 96.03 (provisional) against the US dollar on Monday, weighed down by risk-off sentiments in global markets.

The deterioration of global risk sentiments was triggered by the US rejecting a deal proposal by Iran, which diminished hopes of reopening the Strait of Hormuz.

Brent crude futures surged over 3 percent to $108 a barrel amid a lack of clarity on U.S.-Iran peace negotiations.

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