Rupee falls 39 paise against dollar amid rising oil prices and Middle East tensions

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The Indian rupee weakened against the US dollar on Monday, opening on a lower note. Surging crude oil prices and escalating Middle East tensions weighed on market sentiment. Brent crude prices climbed sharply after Iran announced the closure of the Strait of Hormuz. Despite the volatility, foreign investors continued to show confidence in Indian equities. On a positive note, India's foreign exchange reserves rose by more than seven billion dollars.

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