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Rupee rises 7 paise to 95.64 against dollar amid Iran sanctions, crude concerns

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The Indian rupee opened stronger on Monday, gaining seven paise to trade at 95.64 against the US dollar. However, geopolitical tensions and consistent import demand limited the currency's upward momentum. Elevated Brent crude oil prices added further caution to market sentiment. Investors remained watchful over potential sanctions on Iran's oil sector, which could affect global energy supply. On a positive note, India's foreign exchange reserves recorded a significant increase in the most recent reporting week.

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Rupee rises 7 paise to 95.64 against dollar amid Iran sanctions, crude concerns · ShortSingh