Indian rupee has weakened against the US dollar on Monday amid rise in global crude oil prices. Brent crude oil prices were trading above the $84 a barrel mark as Iran and Oman yet to reach an agreement with regards to management of the Strait of Hormuz, while Houthis claimed another attack on Saudi Aramco's refinery. Further, investors remained cautious as think tank Global Trade Research Initiative (GTRI) has said that the US Senate's approval of a bill imposing sanctions on Russia could expose Indian exports to additional tariffs of up to 100 per cent if India continues to buy Russian crude oil. On the global front, the euro has witnessed mild weakness against the US dollar on Monday amid lingering uncertainty over reopening of the Strait of Hormuz.
Finally, the rupee ended at 95.30 (Provisional), weakened by 13 paise from its previous close of 95.17 on Friday. The currency touched a high and low of 95.32 and 95.18 respectively.
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