The Indian rupee strengthened for the sixth consecutive session, closing 12 paise higher at 95.31 against the US dollar 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.
The domestic currency also drew support from foreign institutional investor (FII) inflows and gains in the domestic equity markets. During the session, the rupee opened at 95.15 and traded in the 95.11–95.34 range before settling at 95.31, up 12 paise from its previous close.