The Indian rupee stayed near a two-month high in opening trades on Monday but gains were limited as the support from strong FCNR-related dollar inflows was negated by elevated crude oil prices amid persistent global headwinds. Rupee continues to draw strength from the robust liquidity wave, but renewed military strikes have driven Brent crude toward USD 97 per barrel, reigniting fears over Middle Eastern energy supply disruptions. DXY is also holding above 99 mark. At the interbank foreign exchange market, the rupee opened at 94.40 against the US dollar, then touched 94.38, registering a gain of 4 paise from its previous close. Indian shares were subdued in early trade on Monday after the U.S. and Iran exchanged attacks in the Strait of Hormuz, reviving concerns about disruption to Middle East supplies. Rising bond yields also kept investors on edge as a robust U.S. jobs report raised the probability that the Federal Reserve will increase its key interest rate at its upcoming policy .
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