![\"Rupee](\"https:\/\/static.toiimg.com\/thumb\/msid-131777191,imgsize-744314,width-400,height-225,resizemode-4\/untitled-design-2026-06-16t221450.jpg\" "\\"Representative")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nThe rupee ended 2 paise lower at 94.60 against the US dollar on Tuesday, breaking a two-session gaining streak despite easing crude oil prices and optimism surrounding a peace agreement between the United States and Iran.At the interbank foreign exchange market, the domestic currency opened at 94.69 against the greenback and moved in a range of 94.48 to 94.71 during the day before settling at 94.60, compared with its previous close of 94.58.Forex traders said the rupee remained largely supported by the de-escalation of tensions in West Asia and the expected reopening of the Strait of Hormuz, a key global energy shipping route.However, foreign capital outflows from Indian equities capped gains and pushed the currency slightly lower.The rupee had strengthened by 60 paise on Monday after gaining 67 paise on Friday, marking a strong recovery over the previous two sessions.<\/p>\n Brent crude, the global oil benchmark, was trading 1.68 per cent lower at $81.77 per barrel in futures trade.“For India, which imports nearly 90 per cent of its oil requirements, lower crude prices are often like a favourable wind behind a ship supporting the rupee,” CR Forex Advisors managing director Amit Pabari, said, as quoted by news agency PTI.The easing in oil prices follows a US-Iran peace framework agreement that is expected to lead to the reopening of the Strait of Hormuz, through which a significant share of global oil and liquefied natural gas exports passes.<\/p>\n Market experts remain constructive on the rupee’s near-term outlook.“USD-INR spot price is expected to trade in a range of 94.10 to 94.90,” Anuj Choudhary, research analyst at Mirae Asset ShareKhan, said, as cited by PTI.According to Dilip Parmar, research analyst at HDFC Securities, “In the near term, USD-INR is expected to maintain a downward bias, with spot levels likely to gravitate towards 94.10. On the upside, 95.20 is expected to act as a near-term resistance, capping any intermittent corrective moves.”The dollar index, which measures the US currency against a basket of six major currencies, was marginally lower at 99.61.<\/p>\n Domestic equity benchmarks ended higher on Tuesday, with the BSE Sensex rising 544.15 points to 76,808.48 and the NSE Nifty gaining 135.25 points to close at 23,989.15.However, foreign institutional investors remained net sellers, offloading equities worth Rs 749.18 crore during the session, according to exchange data.Meanwhile, US President Donald Trump said Vice President JD Vance will lead the American delegation for the formal signing of the peace deal with Iran in Switzerland on Friday, a development that continues to influence global currency and commodity markets.<\/div>\nLower oil prices support outlook<\/b><\/h3>\n<\/p>\n
Analysts see positive near-term trend<\/b><\/h3>\n<\/p>\n
Equity markets rally, FIIs remain sellers<\/b><\/h3>\n<\/p>\n