Rupee slips 39 paise against US dollar as oil prices soar again

The Indian rupee opened lower against the US dollar on Monday. Soaring crude oil prices and Middle East tensions dampened market sentiment. Brent crude prices surged after Iran declared the Strait of Hormuz closed. Foreign investors continued to support Indian equities despite market volatility. India's foreign exchange reserves increased by over seven billion dollars.

By TOI BUSINESS DESK