Mumbai, July 13 -- The Indian rupee fell 39 paise to 95.77 against the American currency in early trade on Monday, weighed down by elevated crude oil prices. International oil prices surged sharply by over 4% in Asian trades after Iran declared the Strait of Hormuz as closed. At the interbank foreign exchange market, the rupee opened at 95.72, then touched 95.78 against the US dollar, registering a loss of 39 paise from its previous close. Risk sentiment deteriorated amid renewed concerns over India's trade balance after Iran expanded its attacks to Qatar and the UAE following fresh US strikes on Iran. US President Donald Trump declared that the ceasefire was over, fueling fears of further supply disruptions.

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