MUMBAI: (Jun 24) The rupee rose sharply by 65 paise to 86.13 against the US dollar in early trade on Tuesday as crude oil prices fell following hopes of a ceasefire between Iran and Israel.

A weak greenback and a strong opening in the domestic equity markets further boosted the rupee, according to forex traders.

Brent crude, the global oil benchmark, declined 2.73 per cent to USD 69.53 per barrel in futures trade as US President Donald Trump announced that Iran and Israel were close to a ceasefire.