Mumbai: The rupee declined in the opening trade by 3 paises to 72.56 against the US dollar on Friday, as the muted opening in local equities weighs investor sentiment.
However, the forex trader supported steady inflows of foreign funds and a weak dollar abroad.
On the interbank foreign exchange market, the local unit opened lower at 72.57 against the US dollar, and then gained some recovery to list at 72.56, a decrease of 3 installments over the previous close.
On Thursday, the rupee settled against the US currency at 72.53.
In the domestic stock market, the 30-share BSE benchmark Sensex traded 243.44 points lower at 48,973.08, and the broader NSE Nifty dropped early trades by 74.30 points to 14,483.55.
Meanwhile, the dollar index, which compares the strength of the dollar to a basket of six currencies, fell 0.05 percent to 91.81.
The global oil benchmark of Brent crude traded 0.32 percent higher at USD 63.48 a barrel.
Foreign institutional investors (FIIs) were net buyers in the capital market on Thursday because they bought shares worth 1,258.47 million, according to the exchange data.
Source: Telangana Today