India, June 15 -- The Indian rupee appreciated by 58 paise to 94.60 against the US dollar in early trade on Monday, supported by a sharp decline in global crude oil prices following reports of a peace agreement between the US and Iran.
According to forex traders, easing geopolitical tensions boosted investor sentiment and reduced concerns over energy prices, providing strong support to the domestic currency. A positive opening in the Indian equity markets and weakness in the US dollar further aided the rupee's gains.
At the interbank foreign exchange market, the rupee opened at 94.70 per dollar and strengthened further to 94.60, marking a gain of 58 paise compared with its previous closing level.
Market participants said the fall in crud...