India, July 28 -- The rupee appreciated sharply by 61 paise to close at 95.92 (provisional) against the US dollar on Monday, driven by a steep correction in crude oil prices after the US and Iran paused the war in West Asia, triggering hopes of easing global trade tensions.

According to forex traders, the local currency also found support from a firm trend in domestic equities and weakness in the US dollar against major currencies.

At the interbank foreign exchange, the rupee opened at 96.18 and touched the low of 96.27 and high of 95.78 against the greenback during the session. The local unit finally settled at 95.92 (Provisional) against the dollar, up 61 paise compared to its previous closing level.

On Friday, the rupee recovered fr...