A sharp decline in crude and strengthening of the rupee added to the buoyancy.
OPEC agrees to keep pumping as oil glut fears persist.
President Trump, in a move that could have implications on India's energy security, on Monday decided not to grant sanctions exemptions to any oil customers of Iran, further squeezing Tehran's top export commodity.
Sectors, which, recorded healthy export growth included electronics, engineering, chemicals, pharma and tea.
India's imports from Iran rose to 250,200 barrels per day
The falls meant that both crude futures were at their lowest levels since mid-April
Rupee is likely to remain under pressure due to domestic concerns.
The reimposition of sanctions on Iran will have major impact on countries like India, with which it has traditional and historic trade relationship.
An obscure Indian bank has been an unlikely beneficiary of Western sanctions against Iran, handling billions of dollars from frozen oil payments that boosted its interest margins, but is now having to prepare itself for life after the windfall.
America had postponed the much-awaited dialogue due to "unavoidable reasons" last month.
The US has told India and other countries to cut oil imports from Iran to 'zero' by November 4 or face sanctions.
Overall forex market sentiment suffered a sudden reversal of fortune contrary to expectation largely moving in line with local equities, reversing all early strong gains.
Belgian-born Rich, whose trading group eventually became the global commodities powerhouse Glencore Xstrata, died in hospital from a stroke.
India has been eyeing deeper energy ties with Iran and has already lined up $20 billion as investment in oil and gas as well as in petrochemical and fertiliser sectors there.
The delegation led by Qasemi arrived on Sunday with the aim of persuading New Delhi to step up both oil imports and investment in the OPEC-member's oil and gas sector.
'Tehran,' Foreign Minister Zarif said, 'had expected the Modi government to be "more resilient" in the face of Washington's bullying,' notes Ambassador M K Bhadrakumar.
The immediate concern for the rupee is the sharp spike in oil prices
Jewellery stores remained deserted as buyers deferred their non-essential purchases awaiting softness in gold prices.
Sharp fall in domestic stock market also affected the rupee sentiment.
The US has slapped sanctions against a number of international companies and individuals for evading sanctions against Iran and for providing support for its contentious nuclear programme.
Iran on Thursday ordered a release of an Indian tanker seized by it in Persian Gulf while carrying crude from Basrah in Iraq and taken to its Bandar Abbas Port 24 days ago.
More than six months after a Reserve Bank of India order threw out a mechanism to pay for Iranian oil, Oil Minister S Jaipal Reddy on Tuesday said India is trying to ensure uninterrupted supplies of crude from the Persian Gulf nation.
Pak seeks US help to ease tensions with India.
There is a congruence of interests between Ukrainian intelligence and its Western mentors to destroy Wagner and eliminate it from the geopolitical chessboard altogether, argues Ambassador M K Bhadrakumar.
The known unknowns in Prime Minister Modi's Saudi visit assume great significance, says Ambassador M K Bhadrakumar.
The Reserve Bank of India's rather sudden and unilateral decision to discontinue the Asian Clearing Union, a move that effectively stops settlements in dollars and the Euro, will most impact Mangalore Refinery, which sources 60 per cent of its crude needs from Iran.
Trump congratulated Modi on his election victory and said that the two countries would work together in many areas including military.
Iran is preparing for a trade and investment boom that could reshape the region after agreeing with world powers to curb its nuclear programme, paving the way for sanctions that have stifled its economy to be lifted.
Indians must remember that Pakistanis hate losing to India, at war or in cricket, says Sanjeev Nayyar.
The dollar index was trading higher by 0.06 per cent against its major global rivals today.
The Geneva agreement is a signal, which at least Saudi Arabia and Israel are so reading, that normalisation of relations between US and Iran is not merely about the nuclear fuel cycle, says K C Singh.
India-Israel relations are at a crossroads. Simply chanting old hackneyed mantras on terrorism, secularism, democracy, et al, won't suffice. There is danger of stagnation setting in, says Ambassador M K Bhadrakumar.
Rupee is under pressure against the dollar say currency watchers.
'Indian diplomacy in West Asia under the present government has been a success story -- and with Saudi Arabia in particular,' says Ambassador M K Bhadrakumar.
The Rupee is seen strengthening against the dollar.
Asia has opened largely in the green ahead of a raft of Chinese data due during the day.
'Both India and Pakistan are now, for the first time in history, very closely allied and connected with the US -- economically and politically.'
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