New Delhi, May 29 -- The Indian rupee opened 14 paise stronger at 95.55 against the US dollar on Friday, 29 May, supported by reports that the United States and Iran have agreed to extend the ongoing ceasefire. However, traders remained cautious, as previous claims of breakthroughs in negotiations have repeatedly failed to translate into concrete resolutions.

According to a Reuters report, dollar outflows linked to global equity index adjustments are expected to remain a pressure point for the domestic currency during the session.

At the same time, crude oil prices decreased amid optimism regarding US-Iran negotiations. Brent crude futures set for July delivery, which expire on Friday, dropped by 1.1% to $92.6 per barrel, while the more...