India, July 13 -- The Indian rupee depreciated 27 paise to settle at 95.65 against the US dollar on Monday, pressured by rising crude oil prices following Iran's closure of the Strait of Hormuz.
According to forex traders, renewed military exchanges between the US and Iran heightened concerns over global oil supplies, while a stronger US dollar and elevated crude prices weighed on the domestic currency and triggered foreign capital outflows.
In the interbank foreign exchange market, the rupee opened at 95.72 against the greenback and traded in the 95.58–95.86 range before closing at 95.65.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....