The Indian rupee appreciated by 40 paise, reaching 95.20 against the US dollar in early trading, buoyed by optimism regarding ongoing peace negotiations between the US and Iran. Despite some unresolved issues, including blockades on the Strait of Hormuz, there is a sense that a peace deal is imminent. US President Donald Trump has advised negotiators to take their time to ensure a thorough agreement. Concurrently, US Secretary of State Marco Rubio announced progress towards finalizing a trade agreement with India, which is expected to enhance bilateral relations. In the interbank foreign exchange market, the rupee opened at 95.36 before climbing to 95.20. The dollar index was down by 0.20%, while Brent crude oil prices fell significantly. Additionally, India's forex reserves saw a decline of USD 8.094 billion, highlighting ongoing economic adjustments.