Mumbai: The Indian rupee opened on a cautious note and fell 8 paise to 71.89 against the US dollar in early trade Thursday tracking muted opening in domestic equities.
At the interbank foreign exchange, the rupee opened at 71.83 then fell to 71.89 against the US dollar, showing a decline of 8 paise over its previous closing.
The Indian rupee Wednesday had closed at 71.81 against the US dollar.
Traders were also awaiting fresh cues on the potential US-China trade deal.
Meanwhile, brent crude futures, the global oil benchmark, fell 0.29 per cent to USD 62.22 per barrel.
Foreign institutional investors (FIIs) remained net buyers in the capital markets, as they purchased shares worth Rs 566.52 crore Wednesday, as per provisional data.
Domestic bourses opened on a cautious note Thursday with benchmark indices Sensex trading 4.04 points down at 40,647.60 and Nifty lower by 7.30 points at 11,991.80.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05 per cent to 97.88.
The 10-year government bond yield was at 6.46 per cent in morning trade.