Rupee drowns, closes at five-month low vs dollar amid Middle East tensions
Rupee drowns: The Indian rupee plunged 23 paise to close at a five-month low of 86.7875 against the US dollar on Monday, pressured by a strengthening US dollar and volatile crude oil prices following the US airstrike on Iran’s nuclear facilities. The sharp decline in domestic equity markets added further strain on the currency. The…