The rupee appreciated 24 paise to 93.74 against the US dollar in early trade on Monday, supported by lower crude prices, improving foreign flows and hopes of de-escalation in the Middle East. Forex traders said the overall outlook for the rupee remains positive as any progress towards peace in the Middle East reduces the risk premium in crude oil and provides further support to the rupee. Over the weekend, encouraging news came from the Middle East, as President Donald Trump indicated that fresh military strikes against Iran are highly unlikely if negotiations make progress and both sides reach a strong agreement. In the interbank foreign exchange market, the rupee opened at around 93.85, then gained ground to touch 93.74, up 24 paise from its previous session's closing level. On Friday, the rupee surged 43 paise to close at 93.98 against the US dollar. "The improvement in diplomatic expectations is already reflecting in energy prices. Brent crude, which had climbed to around USD
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