Indian markets open higher; Rupee falls 9 paise, now at 94.42 against US dollar
Rupee falls 9 paise to 94.42 against the US dollar in early trade, with investors tracking US-Iran talks and crude oil prices.
The rupee weakened by 9 paise to 94.42 against the US dollar in early trade on Monday, as markets monitored developments in US-Iran talks despite softer crude prices lending support to emerging market currencies.
Indian stock markets opened higher on Monday after progress in US-Iran talks in negotiations. The Nifty 50 climbed 0.5 per cent to 24,129, while the Sensex gained 0.51 per cent to 77,190.36.
All 16 major sectoral indices opened higher. Small-cap and mid-cap stocks also advanced by 0.5 per cent and 0.4 per cent, respectively.
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Rupee falls by 9 paise to 94.42 against US dollar in early trade on Monday amid ongoing talks between the US and Iran in Switzerland.
Last week, Rupee gained 0.8 per cent to close at 94.32 against the US dollar. It touched a multi-month high of 94.18 and has now risen for six straight sessions after recovering from its record low of nearly 97 last month.
Oil prices fell on June 22 after US-Iran talks in Switzerland eased concerns about disruptions to global oil supplies.
Brent crude fell 1.7 per cent to $79.24 a barrel after Iran said talks in Switzerland with US Vice President JD Vance had made good progress, as per Reuters. Lower oil prices and progress in US-Iran talks could provide further support.
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US and Iranian officials concluded their first round of talks in Switzerland on Monday. Iranian Foreign Minister Abbas Araqchi, in a post on X, said Tehran had secured waivers for oil and petrochemical exports, the release of some frozen assets and support for Iran’s reconstruction and development plans.
The rupee weakened by 9 paise to 94.42 against the US dollar in early trade on Monday, as markets monitored developments in US-Iran talks despite softer crude prices lending support to emerging market currencies. 
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