Rupee rises 31 paise on weaker dollar, lower oil prices and continued FII inflows

The Indian rupee has risen by 31 paise against the US dollar in early trade on Monday, following weaker global crude oil prices, a weaker US dollar, and continued foreign institutional investor (FII) inflows. The currency opened at 95.12, marking a gain over its previous close of 95.43. The improvement in sentiment was attributed to the easing of geopolitical concerns in the Middle East, as US President Donald Trump decided against carrying out planned strikes on Iran following requests from Gulf allies and appeals from Iranian officials.

Additionally, the rupee benefited from lower Brent crude oil prices and a weaker dollar index, with the latter falling by 0.17% to 99.74. Domestic indicators, such as the increase in foreign exchange reserves by $6.118 billion and a firm performance on Dalal Street, also supported the rupee's upward movement.

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