The Indian rupee extended upside in opening trades on Monday, following RBI's tightened rules to curb speculative positions, capping banks’ net open positions at USD 100 million, even as global developments continued to act as a risk. INR opened at Rs 93.13 per dollar and hit a high of 92.83 so far during the day. The domestic unit however continued to reel under pressure due to unabated withdrawal of foreign capital, a strengthening dollar, and rising crude oil prices amid a volatile geopolitical situation. Crude Oil prices advanced to a nearly four-week high on Monday in reaction to US President Donald Trump's threat to target Iran’s power plants and bridges if the Strait of Hormuz is not reopened by Tuesday. India's benchmark equity indices opened lower on Monday amid intensified military conflict in the Persian Gulf region. Markets were shut on Friday for a holiday.