India, June 16 -- The Indian rupee extended its winning streak for the third straight trading session on Tuesday, appreciating by 5 paise to close at 94.53 (provisional) against the US dollar. The domestic currency was supported by easing geopolitical tensions in West Asia and a continued decline in global crude oil prices.

At the interbank foreign exchange market, the rupee opened at 94.69 and moved within a range of 94.48 to 94.71 before settling at its closing level. Market participants attributed the gain to improved global risk sentiment following reports of de-escalation in US-Iran tensions and diplomatic developments involving the Strait of Hormuz.

Forex traders noted that a weaker US dollar index and declining US Treasury yields...