The Indian rupee edged lower to around 95.1 per dollar, retreating from multi-week highs as uncertainty surrounding US-Iran negotiations kept crude oil markets volatile. Brent crude remained near $100 per barrel after conflicting signals on diplomatic talks between Washington and Tehran. The rupee also faced headwinds from continued foreign portfolio outflows, with overseas investors selling about $2.5 billion of equities over the last two trading sessions, bringing total outflows since late February to nearly $25 billion. Market participants also digested mixed economic data, as India's fiscal deficit widened to INR 3.6 trillion in April, nearly double the level recorded a year earlier, while industrial production rose 4.9% year-on-year, signaling resilience in manufacturing despite pressure from elevated oil prices and a weaker rupee. Investors are now focused on this week's Reserve Bank of India policy meeting, with expectations split between a rate hold and a 25-basis-point hike.