Rupee rises 40 paise to 95.20 against US dollar in early trade

MUMBAI: (May 25) The rupee appreciated 40 paise to 95.20 against US dollar in early trade on Monday on optimism that the US and Iran were moving close to a peace deal even though they remained at odds over key issues, including blockades on the Strait of Hormuz.

Forex traders said the rupee opened on a positive note as the US and Iran have “largely negotiated” a peace pact to end the nearly three-month war.

US President Donald Trump has told the negotiators “not to rush into a deal” and that “both sides must take their time and get it right”.