Rupee Gains 24 Paise Against US Dollar Amid Lower Oil Prices

The Indian rupee rose 24 paise against the US dollar in early trade on Monday, reaching 95.72. This gain was driven by lower crude oil prices and a positive trend in domestic equities.

Forex traders pointed to initial gains in domestic equities and improved foreign fund sentiment as contributing factors to the rupee's rise. However, sustained importer demand for greenbacks from oil companies and broader strength in the US dollar Index weighed on the local unit.

The rupee opened at 95.86 against the US dollar but gained some ground to touch 95.72 against the American currency, registering a gain of 24 paise from its previous close.