Rupee snaps two-day rally, settles 2 paise lower at 94.60 against US dollar

The Indian rupee ended a two-day winning streak on Tuesday, settling 2 paise lower at 94.60 against the US dollar, as foreign investors sold off Indian equities despite falling crude oil prices and prospects of a US-Iran peace deal. Analysts expect the rupee to continue its downward trend in the short term, although lower oil prices might provide some support. This fluctuation underscores the rupee's vulnerability to global financial dynamics, highlighting the need for domestic economic strategies to stabilize currency value.