The Indian rupee appreciated 31 paise to 95.12 against the US dollar in early trade on Monday, supported by a sharp decline in global crude oil prices and a weaker US dollar after US President Donald Trump deferred planned strikes against Iran.
Sentiment was further boosted by sustained FII inflows, an increase in India's forex reserves, and continued support from the Reserve Bank of India (RBI), according to forex market participants.
The rupee opened at 95.15 against the greenback in the interbank foreign exchange market before strengthening further to 95.12, marking a gain of 31 paise over its previous close.