Mumbai: The Indian rupee declined against the US dollar in early trade on Tuesday. As per forex traders, the Indian currency was weighed down by persistent foreign fund outflows and a prevailing liquidity deficit.Forex traders said the ongoing uncertainty surrounding tariff imposition by the US has left financial markets in flux.
At the interbank foreign exchange, the Indian rupee opened at 87.38, then fell to 87.40 against the American currency, registering a decline of 8 paise over its previous close. On Monday, the rupee settled with a gain of 5 paise at 87.32 against the US dollar.
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Meanwhile, the dollar index, which gauges the US dollar’s strength against a basket of six currencies, was at 106.61, lower by 0.12 per cent. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,788.29 crore in the Indian capital markets on net basis on Monday.
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