Rupee Soars on Crude Price Drop, Iran-US Ceasefire

The Indian rupee has made significant gains against the U.S. dollar, appreciating by 61 paise to settle at 95.92 on Monday.

This upward movement is attributed to a combination of factors, including a sharp correction in crude oil prices following the pause in hostilities between the U.S. and Iran in West Asia.

The rupee also found support from a firm trend in domestic equities and weakness in the U.S. dollar against major currencies.