Rupee Closes Stronger Against Dollar

The Indian rupee closed 31 paise stronger at 84.25 against the US dollar on Monday, according to Bloomberg data.

The local currency had closed at 84.56 against the greenback on Friday.

Brent crude prices kept plunging and the global benchmark was trading 1.33% lower at $60 a barrel as of 2:40 p.m. The US Dollar Index was also trading in the red at 99.46 with a 0.37% decline, Bloomberg reported.

The dollar weakened and US equity-index futures dropped, threatening to end the S&P 500's longest winning streak in two decades, as uncertainty about US trade policy hung over markets. Crude oil slumped after OPEC+ announced another supply increase.