New Delhi, June 23 -- The Indian rupee opened marginally weaker at 94.69 against the US dollar on Tuesday, 23 June, slipping by 1 paise despite support from softer crude oil prices amid progress in US-Iran negotiations.

According to a Reuters report, market participants said Monday's decline in the rupee was not driven by any significant flow-related activity and largely ran counter to prevailing market expectations, catching traders by surprise.

Currency dealers noted that the focus has gradually shifted from oil prices to the US Federal Reserve's policy outlook. Rising expectations of a Fed rate hike in September are beginning to weigh on Asian currencies, including the rupee, they said.

"It appears the risk for the rupee is now shif...