The Indian rupee opened stronger on June 12, gaining 37 paise against the US dollar as declining crude oil prices provided relief to the domestic currency. The move followed comments from US President Donald Trump suggesting that a diplomatic agreement with Iran could be finalized soon, easing concerns over potential disruptions to global oil supplies.

Global crude oil prices fell sharply after reports that the United States had stepped back from planned military action against Iran and that negotiations between the two countries were progressing. Brent crude and West Texas Intermediate both declined, reducing inflationary and trade balance concerns for major oil-importing nations such as India.

The rupee's strength was also supported by expectations that lower energy costs could reduce pressure on India's current account deficit and foreign exchange reserves. Currency market participants noted that easing geopolitical tensions in the Middle East helped improve risk sentiment across global financial markets.

According to market estimates cited by Finrex, the rupee is expected to open around 95.30 per US dollar and trade within a range of 95.00 to 95.75 during the session. Traders will continue to monitor developments in the Middle East, crude oil prices, and movements in the US dollar for further direction.