The Indian rupee appreciated 20 paise to close at 95.58 (provisional) against the US dollar on Tuesday, supported by a sharp fall in crude oil prices on improved global risk sentiments and hopes of diplomatic talks to resolve the US-Iran war. Media reports suggesting Iran is willing to open the Strait of Hormuz a vital passage to almost 20% of global energy supply within seven days if the United States (US) takes initial steps toward easing military pressure is seen aiding positive sentiments in the local unit. At the interbank foreign exchange market, the rupee opened at 95.75 against the US dollar, then gained some ground and touched 95.55 against the American currency in intraday trade. Meanwhile, domestic shares were modestly higher in cautious trade on Tuesday, with underlying sentiment supported somewhat by falling crude oil prices in international markets amid hopes for diplomatic efforts to end the U.S.-Iran war and signs of recovering Saudi oil exports. The benchmark …
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