Mumbai: In early trade on Tuesday, The rupee opened on a weak note and declined by 22 paise to 69.73 due to increased demand for the greenback from importers and banks.
Forex traders said the strengthening of the greenback vis-a-vis other currencies overseas and weak opening in domestic equities added pressure to the local unit. However, The foreign fund inflows and easing crude prices restricted the domestic currency.
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As per the report, 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. The rupee had settled at 69.51 against the US dollar on Monday.
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Meanwhile, brent crude futures, the global oil benchmark, eased 0.11 per cent to USD 70.03 per barrel. provisional data showed, Foreign institutional investors (FIIs) infused Rs 1,215.36 crore on a net basis Monday, Domestic bourses opened on a negative note Tuesday with benchmark indices Sensex trading 33.21 points down at 39,650.08 and Nifty down 23.45 points at 11,901.30.