MUMBAI: The Indian rupee opened on a cautious note and fell 11 paise to 71.12 against the US dollar in early trade on Wednesday.
At the Interbank Foreign Exchange, the rupee opened at 71.10 then fell to 71.12 against the US dollar, showing a decline of 11 paise over its previous closing.
On Tuesday, the Indian rupee had closed at 71.01 against the US dollar.
Domestic bourses opened on a negative note on Wednesday with benchmark indices Sensex trading 304.71 points down at 38,792.43 and Nifty lower by 82.05 points at 11,506.15.
According to provisional exchange data, Foreign institutional investors (FIIs) offloaded shares worth Rs 828.49 crore on Tuesday.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.19 per cent to 98.52.
Crude oil benchmark, Brent Futures, eased 0.74 per cent to USD 71.95 per barrel.
Meanwhile, the 10-year government bond yield was at 6.77 per cent in morning trade.