The Indian rupee closed flat on Monday, erasing modest early gains after local stocks slumped and importers stepped in to buy dollars over a largely subdued trading session. The rupee hovered between 94.76 and 94.96 through the day before closing the session at 94.9250, nearly flat compared with its closing level on Friday. Traders said importers' dollar demand was also a drag on the local currency on Monday even as Brent crude oil prices fell about 2% to $108 per barrel. Oil prices dropped following US President Donald Trump's decision to waive some sanctions on Russia. US Secretary of State Marco Rubio said the president will use up to 60 days to assess the impact of the sanctions and tariffs on the global economy. India's benchmark stock gauge, the Nifty 50 fell over 1%, pressured by weakness in heavyweight information technology and financials stocks, both of which are among the sectors most heavily owned by foreign investors. The euro fell on Monday as high energy prices compounded concerns over political stability in France, where weekend riots and looting amounted to some of the country's worst unrest in years. Analysts said the euro's reaction in early October was much more dramatic and followed a familiar playbook: The single currency tends to come under sustained pressure only if French political tensions spill beyond national borders and weigh on sentiment across the euro zone. The euro dropped 0.20% to $1.1218 . It fell more than 1% at the turn of the month after the spread between French OATs and safe-haven German Bunds widened by about 40 basis points to above 150 bps within days, increasing risk premiums of other countries of the bloc. The French spread was last up 2 bps at 144 bps on Monday. Sterling hit a fresh 17-month high against the euro on Monday as steer riots in France and elevated energy prices weighed on the single currency while recent strong economic data and fewer concerns about the UK fiscal trajectory propped up the British currency. The pound was up 0.25% at 84.11 pence per euro, after hitting 83.95 pence earlier in the session, the strongest since May 2025. It dropped 0.05% against a broadly stronger dollar, to $1.3327 . Gold prices edged higher on Monday as lower ?oil prices alleviated inflation concerns ahead of next week's Federal Reserve monetary policy meeting, where the central bank is widely expected to hold interest rates steady. Spot gold rose 0.2% to $4,172.87 per ounce by 1109 GMT. US gold futures for December delivery rose 0.3% to $4,193.30 per ounce. Oil prices slipped from a five-month high on Monday after US President Donald Trump waived sanctions and tariffs on Russia that may lead to more Russian fuel exports. Among other metals, spot silver gained 1.2% to $57.6704 per ounce, platinum rose 1.3% to $1,652.22 per ounce and palladium climbed 2% to $1,134.25 per ounce. www.eforexindia.com......