India, June 15 -- The Indian rupee strengthened by 47 paise to settle at 94.71 per US dollar (provisional) on Monday, supported by a sharp decline in global crude oil prices following the announcement of a peace agreement between the United States and Iran.
Forex traders said the easing of geopolitical tensions led to a fall in crude oil prices, providing support to the domestic currency. A strong rally in Indian equity markets and weakness in the US dollar further aided the rupee's gains.
In the interbank foreign exchange market, the rupee opened at 94.70 against the greenback and traded within a range of 94.45 to 94.77 during the session. It eventually settled at 94.71, marking an appreciation of 47 paise over its previous close.
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