The Indian rupee slipped in opening trades on Monday as dollar firmed up and international oil prices pick up momentum on renewed uncertainty between war nations. Lack of clarity on war stance is adding to a spike in international oil prices this morning, triggering inflation concerns and denting overall sentiments. INR opened at Rs 94.93 per dollar but pared some initial losses to hit a high of 94.73 so far during the day. On Friday, rupee appreciated to close at 94.85 against the US dollar. The domestic currency gained momentum near a three week high on an overnight decline in crude oil prices and a fall in the US dollar, after the US and Iran reached an understanding to extend the ceasefire for another 60 days although Trumps approval on the same is awaited. Meanwhile, local shares were somewhat along the flat line after Israel-Lebanon conflict escalated following sharp weekly drops as Washington and Tehran discussed potential ceasefire that could eventually ease out the disruptions around Strait of Hormuz.

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