Rupee opens 2 paise lower at 94.68 against US dollar

The Indian rupee opened 2 paise lower at 94.68 against the US dollar on 1 July, tracking weakness in Asian currencies and higher US Treasury yields. The local currency has remained under pressure over the past two sessions due to declines in regional peers, increased importer hedging, and fading speculative interest. Traders noted the rupee has largely traded within the 94.10 to 94.90 range for about two-and-a-half weeks, with likely RBI intervention whenever the currency approaches the 95-per-dollar level limiting the downside.