The Indian rupee settled on a flat note, registering gains of just one paisa to close at 94.15 (provisional) against the US dollar on Monday, as rising global uncertainty, escalating tensions in West Asia and soaring crude oil prices weighed on investor sentiments. The INR/USD pair pared its initial losses, but the overall bias remains negative as FII sell-off and elevated crude oil prices restricted the gains for the local unit. Indian shares rose notably on Monday, with mostly positive cues from global markets helping underpin sentiment. Benchmark indexes Sensex and Nifty snapped their three-day losing streak after reports emerged that Iran has proposed reopening the Strait of Hormuz and ending the war, while postponing nuclear negotiations to a later stage. At the interbank foreign exchange market, the rupee opened at 94.25 against the US dollar, and touched an intraday high of 94.11 and a low of 94.28 against the greenback during the day.