New Delhi, June 22 -- The Indian rupee opened 4 paise weaker at 94.36 against the US dollar on Monday, 22 June, even as easing crude oil prices and signs of progress in US-Iran peace negotiations continued to support sentiment toward the domestic currency.

The rupee had rallied 0.8% last week to close at 94.32, marking its strongest weekly gain in nearly three months. The currency also touched a multi-month high of 94.18 and extended its winning streak to six consecutive sessions, rebounding sharply from its record low near 97 hit last month.

The recent recovery has helped improve market sentiment, reducing concerns that the rupee is locked into a prolonged depreciation trend.

Currency traders said further gains could be driven by soft...