MUMBAI: The rupee opened on a weak note and declined 12 paise to 69.48 against the US dollar in opening trade on Wednesday.
The rupee opened weak at 69.40 at the interbank forex market and then fell further to 69.48, down 12 paise over its last close.
On Tuesday, the rupee had settled at 69.36 against the US dollar.
“Rupee is trading in a narrow range as market participants are cautious amid rising tensions between the US and Iran”, Forex traders said.
Brent crude futures, the global oil benchmark, rose 1.60 per cent to USD 66.09 per barrel.
As per provisional data, Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,157.87 crore on Tuesday
Domestic bourses opened on a positive note on Wednesday with benchmark indices Sensex trading 121.08 points higher at 39,556.02 and Nifty up 21.60 points at 11,818.05.
With inputs from PTI