Mumbai:The rupee opened on a cautious note and fell by 16 paise to 72 per US dollar in early trade on Tuesday amid rising demand for the US dollar vis-a-vis other currencies overseas and unabated foreign fund outflows.Forex traders said trading in emerging market currencies were subdued tracking cautious opening in domestic equities.At the interbank foreign exchange, the rupee opened at 71.97 and declined to 72 against the US dollar.The rupee had closed at 71.84 against the US dollar on Monday.Traders awaitedfresh cues on the potential US-China trade deal.Meanwhile, Brent crude futures - the global benchmark for crude oil - fell 0.24 per cent to $62.29 per barrel.Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 270.66 crore on Monday, according to provisional data.Domestic stock markets started Tuesday's session on a cautious note, with the Sensex opening171.17 points higher at 40,455.36 and the Nifty starting the session at 11,919.45, up 34.95 points from the previous close.The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.01 per cent to 97.80.The 10-year government bond yield was at 6.48 per cent in morning trade.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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