Rupee Rises 9 Paise To 94.80 Against U.S. Dollar In Early Trade

The Indian rupee gained 9 paise to open at 94.80 against the U.S. dollar in early trade on Monday, supported by Reserve Bank of India forex interventions.

Forex traders noted that the rupee experienced its sharpest rally in seven months, remaining below the 95.00 mark for three consecutive sessions.

A surge in Brent crude oil to near $110 per barrel and rising U.S. Treasury yields pose significant downside risks to the domestic currency's recovery.