Rupee Strengthens Amid Diplomatic Hopes and Crude Oil Price Drop

The Indian rupee appreciated 15 paise to close at 95.81 against the US dollar on Monday, driven by weak crude oil prices and improved global risk sentiment.

Forex traders pointed out that the local unit firmed up due to hopes of diplomatic talks between the US and Iran, as well as positive domestic markets and softening US Treasury yields.

The rupee opened at 95.86 against the US dollar but gained ground throughout the day, touching an intraday low of 95.72 against the American currency.