The Indian rupee depreciated 27 paise to close at 95.65 (provisional) against the US dollar on Monday, weighed down by elevated crude oil prices after Iran declared the Strait of Hormuz closed. Renewed drone and missile strikes between the US and Iran prompted supply concerns, while elevated crude oil prices and a strong greenback triggered capital outflows. At the interbank foreign exchange market, the rupee opened at 95.72 against the American currency and traded in a range of 95.58-95.86 during the session. Indian shares recouped early losses to end little changed on Monday, with strong gains in information technology stocks helping limit the downside. A cautious undertone prevailed as renewed U.S.-Iran hostilities in the Middle East and Iran's claim to have closed the vital Strait of Hormuz sent crude oil prices soaring. The Sensex closed at 77,616.40 (up 47.01 points or 0.06%), and the Nifty 50 settled at 24,211.00 (up 4.10 points or 0.02%).
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