Rupee opens 12 paise lower against US dollar amid weak global cues

The rupee on Wednesday opened 12 paise lower at 71.83 against the US dollar amid decline in crude oil prices and fall in Asian equities over US-China trade deal uncertainties. The domestic unit on Tuesday settled 13 paise higher at 71.71. 

Forex traders said the rupee on Tuesday consolidated in a narrow range following lack of cues on the domestic as well as the global front. During the day, the domestic unit fluctuated between a high of 71.68 and a low of 72.

Foreign institutional investors (FIIs) remained net sellers in the capital markets on Tuesday, as they pulled out