MUMBAI: The rupee opened on a weak note and declined by 22 paise to 69.73 against the US dollar in early trade on Tuesday.
“The strengthening of the greenback vis-a-vis other currencies overseas and weak opening in domestic equities added pressure to the local unit”, Forex traders said.
However, foreign fund inflows and easing crude prices restricted the fall in the domestic currency.
The rupee opened weak at 69.68 at the interbank forex market and then fell further to 69.73, down 22 paise over its last close.
On Monday, the rupee had settled at 69.51 against the US dollar
Meanwhile, brent crude futures, the global oil benchmark, eased 0.11 per cent to USD 70.03 per barrel.
Foreign institutional investors (FIIs) infused Rs 1,215.36 crore on a net basis on Monday.
Domestic bourses opened on a negative note on Tuesday with benchmark indices Sensex trading 33.21 points down at 39,650.08 and Nifty down 23.45 points at 11,901.30.
With inputs from PTI