<ul data-eligibleForWebStory="true"><li>The Indian rupee closed 3 paise stronger at 86.06 against the US dollar on Monday following a decrease in India's trade deficit in May.</li><li>The domestic currency opened weaker at 86.18 against the US dollar due to an uptick in oil prices and mild interbank dollar sales.</li><li>RBI intervention limited the gains of the Indian rupee which was under pressure from a strong dollar, weak India CPI, rising oil prices, and FII selling.</li><li>The domestic currency is expected to find support at levels of 85.45-85.32 and resistance at levels of 86.25-86.40.</li><li>The US dollar slightly strengthened against a basket of currencies driven by safe-haven buying amid rising geopolitical tensions in the Middle East.</li><li>Brent crude prices initially surged by 5.5% after weekend attacks but later fell, closing at $73.95 per barrel.</li><li>The recent increase in oil prices follows a period of decline, with Brent crude falling to its lowest level since February 2021.</li></ul>

Rupee Closes Stronger After Trade Deficit Narrows

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