Rupee falls to 94.54 against US dollar amid U.S.-Iran clashes
Business
The rupee dropped to 94.54 against the US dollar on Monday, losing a bit of ground after opening strong.
Early gains faded as fresh U.S.-Iran clashes rattled investors, even though elevated oil prices and foreign investments tried to keep things steady.
Markets down as oil prices rise
It wasn't just the rupee: stock markets took a hit as well, with Sensex down by 372 points and Nifty dropping nearly 110 points.
Meanwhile, oil prices edged up thanks to rising tensions in West Asia.
Research Analyst at Mirae Asset ShareKhan Anuj Choudhary said, "USDINR spot price is expected to trade in a range of 94.20 to 94.80."