Indian rupee ends Monday at 94.50 per US dollar
Business
The Indian rupee ended Monday at 94.50 per US dollar, dropping seven paise from last session's close.
After a brief high in early trading, it lost ground by the end of the day, partially reversing Friday's small gains.
Oil and U.S.-Iran tensions press rupee
Rising crude oil prices and ongoing tensions between the US and Iran put pressure on the rupee, even though foreign inflows and a weaker dollar offered some support.
Indian stock markets also took a hit, with Sensex and Nifty both closing lower.
On a brighter note, India's foreign exchange reserves hit a new record high, showing some underlying strength despite all the market drama.