The Indian rupee depreciated 34 paise to 73.82 against the U.S. dollar in opening trade on September 20, tracking a strong greenback in the overseas market.
Forex traders said a muted trend in domestic equities also dragged the local unit down.
At the interbank foreign exchange, the rupee opened at 73.82 against the dollar, registering a decline of 34 paise from the last close.
In the previous session on September 17, the rupee had settled at 73.48 against the U.S. dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.16% to 93.34.
Foreign institutional investors were net buyers in the capital market on September 17 as they purchased shares worth ₹1,552.59 crore, as per exchange data.
On the domestic equity market front, the 30-share index was trading 49.39 points or 0.08% lower at 58,966.50. Similarly, the broader NSE Nifty was trading 27.35 points or 0.16% down at 17,557.80.
Global oil benchmark Brent crude futures declined 0.88% to $74.68 per barrel.