The Indian rupee gained 28 paise (hundredths of a rupee) to trade at around 96.25 against the US dollar in early trade on Monday, buoyed by a sharp drop in global crude oil prices and improved international sentiment. Brent crude fell over 4% to $92.74 per barrel after the United States and Iran signalled a pause in hostilities in West Asia, with US Ambassador to the United Nations Mike Waltz saying President Trump was "giving talks some space." Domestic stock markets also rallied strongly, with the benchmark Sensex index rising over 600 points, adding further support to the currency.