Rupee Rises on Weaker Dollar, Lower Oil Prices

The Indian rupee rose by 31 paise against the US dollar in early trade on Monday, driven by lower global crude oil prices and a weaker dollar. Foreign fund inflows also contributed to the currency's gain.

The rupee opened at 95.15 against the US dollar in the interbank foreign exchange market before strengthening further to 95.12, marking a gain of 31 paise over its previous close of 95.43.

The improvement in sentiment followed developments in the Middle East after US President Donald Trump said he had decided against carrying out planned strikes on Iran. Trump's decision led to a decline in oil prices, with Brent crude falling 5% to $83.66 a barrel.