Surge in crude oil prices continue to pressurize INR

The Indian rupee depreciated 28 paise to close at 96.03 (provisional) against the US dollar on Monday, on risk-off sentiments in global markets after the US rejected a deal proposal by Iran, diminishing hopes of reopening of the Strait of Hormuz. Global risk sentiments deteriorated as the stalemate between the US and Iran continued; falling risk assets and a surge...