![\"Rupee](\"https:\/\/static.toiimg.com\/thumb\/msid-130066353,imgsize-927264,width-400,height-225,resizemode-4\/-.jpg\")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nThe rupee appreciated by 28 paise to close at 92.90 against the US dollar on Monday, supported by the Reserve Bank\u2019s measures aimed at curbing speculative activity and reducing volatility, PTI reported.Forex traders said that while the RBI\u2019s actions are positive for the currency, continued foreign fund outflows, a firm dollar and elevated crude oil prices amid geopolitical tensions are exerting pressure on the rupee.The RBI has tightened rules to curb speculative positions and capped banks’ net open positions at $100 million.At the interbank foreign exchange market, the rupee opened at 93.13 and strengthened to an intraday high of 92.79 against the greenback before settling at 92.90, up 28 paise from the previous close.On Thursday, the domestic currency had posted one of its sharpest gains in years, rising 152 paise to close at 93.18 after the RBI introduced a series of measures to restrict banks from onshore forward markets.Equity and forex markets remained closed on Friday on account of Good Friday.Geopolitical tensions continue to weigh on the rupee, with US President Donald Trump escalating pressure on Iran and setting a deadline to reopen the Strait of Hormuz, failing which the US could target its power infrastructure.Meanwhile, the dollar index, which measures the greenback against a basket of six currencies, was down 0.15% at 99.87.Brent crude, the global oil benchmark, was trading 1.61% lower at $107.29 per barrel in futures trade, as investors tracked developments around the Strait of Hormuz.According to forex traders, the USD\/INR pair may see short-term appreciation, though the broader trend will continue to be influenced by global dollar liquidity, crude oil movements and geopolitical developments.On the domestic equity front, the Sensex rose 787.30 points to close at 74,106.85, while the Nifty gained 255.15 points to end at 22,968.25.Foreign institutional investors sold equities worth Rs 8,167.17 crore on a net basis on Monday, as per exchange data.India\u2019s forex reserves declined by $10.288 billion to $688.058 billion for the week ended March 27, the RBI said. In the previous week, reserves had dropped by $11.413 billion to $698.346 billion.On the macroeconomic front, India\u2019s services sector growth eased to a 14-month low in March, reflecting slower new business inflows.The seasonally adjusted HSBC India Services PMI Business Activity Index fell to 57.5 in March from 58.1 in February, marking the weakest expansion in activity since January 2025.<\/div>\n