The Indian rupee opened marginally stronger against the US dollar on Monday, but the currency's recent recovery faces fresh challenges as crude oil prices remain elevated and support from foreign fund inflows linked to the Jio Platforms IPO is expected to fade. The rupee opened at 94.93 against the dollar on Monday (October 26), compared with Friday's close of 94.94, gaining 1 paisa at the start of the trading session. However, the currency remains vulnerable to a fall beyond the psychologically important 95-per-dollar mark. Brent crude prices hovering near $115 a barrel and uncertainty over foreign investment flows are weighing on the outlook for the domestic currency. Traders also expect the US Federal Reserve's upcoming policy decision to influence currency movements this week. The rupee traded between 94.32 and 94.97 last week, finding support from inflows linked to the Jio Platforms IPO and the unwinding of currency positions. However, market participants expect this support to weaken as the IPO allotment process concludes on Monday, ahead of the company's stock market listing on Wednesday.