Rupee inches up, Iran deal longevity worries and hedging drag

The Indian rupee saw a modest rise against the U.S. dollar, influenced by a U.S.-Iran truce but tempered by importer hedging and skepticism about the deal's durability. While the peace agreement aims to reopen the Strait of Hormuz and lower oil prices, market participants await further details and anticipate the U.S. Federal Reserve's interest rate decision.