The Indian rupee weakened further and closed at a record low of 96.35 (provisional) against the US dollar on Monday, pressured by rising crude oil prices on the back of ongoing geopolitical tensions and a strong dollar. During the day, the counter hit a low of 96.39. The global market sentiments continue to dampen amid simmering tensions between the US and Iran. Moreover, emerging market economies, including India, continue to feel the pressure of rising crude oil prices, as elevated rates increase the outflows of US dollars, along with the outflows already happening due to FPIs. Meanwhile, Indian shares ended little changed on Monday, after having suffered heavy losses earlier in the session on rising Middle East tensions and economic concerns. The benchmark BSE Sensex rebounded over 1,100 points from the day's lows before closing 77.05 points, or 0.10 percent, higher at 75,315.04.The NSE Nifty index also fell up to 1.3 percent in early trading before recovering to close up 6.45 points at 23,649.95.
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