India, April 16 -- The rupee pared initial gains to settle 9 paise lower at 93.44 (provisional) against the US dollar on Wednesday, as rising crude oil prices after a sharp fall and higher domestic inflation data dampened sentiment.

According to forex analysts, strong buying in domestic equities failed to support the rupee even as it gained initially after US President Donald Trump said that a second round of talks with Iran could be held "over the next two days".

At the interbank foreign exchange market, the rupee opened at 93.19 and touched the intraday high of 93.13 against the greenback. It finally settled at the day's lowest level of 93.44 (provisional) against the American currency, registering a fall of 9 paise from the previous ...