India, June 2 -- The Indian rupee weakened further on Tuesday, slipping 10 paise to close at 95.29 against the US dollar as rising crude oil prices, persistent foreign fund outflows, and strong demand for the greenback weighed on market sentiment.

At the interbank foreign exchange market, the rupee opened at 95.16 against the dollar and moved within a range of 95.03 to 95.31 during the day. The domestic currency eventually settled at 95.29, extending its losses after declining 34 paise in the previous session.

Forex market experts attributed the weakness in the rupee to renewed geopolitical tensions and a sharp rise in global oil prices. Higher crude prices increase India's import bill and typically put pressure on the domestic currency...