New Delhi, June 12 -- The Indian rupee strengthened by 39 paise to open at 95.37 against the US dollar on Friday, 12 June, supported by a sharp decline in crude oil prices after US President Donald Trump indicated that a peace agreement with Iran could be reached soon. The development eased concerns over oil supply disruptions and provided relief to the domestic currency.

Brent crude slipped to $88.80 per barrel, its lowest level in two months, after Trump said a deal with Iran could be signed as early as this weekend, reversing market concerns that had intensified following earlier threats of military action.

According to Trump, negotiations with Tehran have progressed significantly and have received support from a broad coalition of r...