Rupee jumps 28 paise against US dollar as crude price drops to $92 per barrel

The Indian Rupee opened stronger against the US dollar on Monday. This rise was supported by declining crude oil prices and a weaker dollar. Easing Middle East hostilities between the US and Iran also improved global sentiment. Domestic equities traded higher, which further boosted the local currency's performance. Foreign institutional investors remained net sellers of equities on Friday.