India, June 29 -- The Indian rupee erased its early gains to settle 9 paise lower at 94.54 (provisional) against the US dollar on Monday as renewed geopolitical tensions weighed on investor sentiment.
The domestic currency opened at 94.36, touched an intraday high of 94.25, and slipped to a low of 94.56 before closing at 94.54.
Forex dealers said the rupee initially drew support from easing crude oil prices and improving foreign inflows. However, fresh military exchanges between the US and Iran dampened risk appetite, leading to weakness in the domestic currency.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....