India, July 14 -- The rupee depreciated 27 paise to close at 95.65 (provisional) against the US dollar on Monday, weighed down by elevated crude oil prices after Iran declared the Strait of Hormuz closed.

Forex traders said renewed drone and missile strikes between the US and Iran prompted supply concerns, while elevated crude oil prices and a strong greenback triggered capital outflows.

At the interbank foreign exchange market, the rupee opened at 95.72 against the American currency and traded in a range of 95.58-95.86 during the session.

The rupee finally closed at 95.65 (provisional), down 27 paise from its previous close.

On Friday, the rupee rose 9 paise to settle at 95.38 against the US dollar.

"The Indian rupee opened lower as...