The Indian rupee appreciated by 39 paise, reaching 92.75 against the US dollar in early trading on Friday, buoyed by easing geopolitical tensions and positive domestic market conditions. The currency opened at 92.93 and advanced further, following a previous close of 93.14. Key drivers for this rise include improving global risk sentiment due to potential de-escalation in West Asia, particularly a reported 10-day ceasefire between Israel and Lebanon. Additionally, China has urged Iran to ensure safe passage through the Strait of Hormuz, a vital global energy route, which has further reduced risk aversion among investors. Lower crude oil prices, which fell 1.16% to $98.24 per barrel, also played a significant role, as reduced oil costs can alleviate pressure on the rupee. Foreign Institutional Investors turned net buyers, purchasing ₹382.36 crore in Indian stocks, increasing demand for the rupee. However, the dollar index remains firm at 98.07, posing a potential limit to the rupee's gains.