Mumbai: The Indian rupee opened lower against the US dollar on Tuesday. As per market experts, the strengthening of the US dollar in overseas and spike in treasury yields are the main reason for this.
At the interbank foreign exchange, the Indian rupee opened at 83.19 a dollar, down by 5 paise as compared to previous close. On Monday, the Indian rupee fell 21 paise to 83.15 a dollar.
The dollar index which measures the strength of US currency against six other currencies stood at 106. This is its 10-month high since November.
On Monday, the Foreign institutional investors (FIIs) sold Indian shares worth Rs 2,333.03 crore, while Domestic Institutional Investors (DIIs) purchased shares worth Rs 1,579.28 crore.