Rupee Tumbles 19 Paise to Close at 95.61 Amid US-Iran Deal Uncertainty

The Indian rupee depreciated against the US dollar on Monday, closing at 95.61 (provisional) after a weak domestic equity market and rising crude oil prices took their toll.

Forex traders pointed to the delay in the deal between the US and Iran, as well as increasing crude oil prices, as factors contributing to the rupee's decline.

Anuj Choudhary, Research Analyst at Mirae Asset ShareKhan, noted that 'we expect the rupee to trade with a slight negative bias on delay in the deal between the US and Iran and rising crude oil prices.'

The rupee had opened at 95.50 against the greenback and traded in a range of 95.49-95.62 during the session.