Rupee opens 1 paise lower at 94.69 against US dollar

The Indian rupee opened marginally weaker at 94.69 against the US dollar on 23 June, slipping 1 paise despite support from softer crude oil prices. Market focus is shifting from oil to the US Federal Reserve's policy outlook, with a nearly 75% probability now priced in for a rate hike by September. The benchmark US two-year Treasury yield touched a 16-month high, adding pressure on emerging-market currencies including the rupee.