MUMBAI: The rupee depreciated 17 paise to 69.32 against the US dollar in opening trade on Thursday.
The rupee opened weak at 69.29 at the interbank forex market and then fell further to 69.32, down 17 paise over its last close.
“Rupee is trading in a narrow range as market participants are trading the cautious path amid rising tensions between the US and Iran”, Forex traders said.
On Wednesday, the domestic unit had settled at 69.15 against the US dollar.
Meanwhile, foreign fund inflows and positive opening in domestic equities supported the domestic currency.
As per provisional data, Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 106.26 crore on Wednesday.
Domestic bourses opened on a cautious note on Thursday with benchmark indices Sensex trading 74.26 points higher at 39,666.34 and Nifty up 20.50 points at 11,868.05.
Meanwhile, brent crude futures, the global oil benchmark, eased 0.39 per cent to USD 66.23 per barrel.
With inputs from PTI