The rupee rose 47 paise to settle at 94.71 against the US dollar as global crude oil prices dropped sharply after US President Donald Trump announced that the US and Iran finalised a deal to end the war. During the day's session, the rupee touched 94.4625, its highest level in five weeks.


The India VIX, often referred to as the market's fear gauge, declined 2.5 percent to 14.35. A fall in the volatility index indicates easing concerns among investors and generally supports risk appetite, aiding gains in equities.