The Indian rupee opened lower by 9 paise against the US Dollar tracking losses in its local equities and Asian peers. The yield on the 10-year government bond was at 6.422% compared with Monday's close of 6.418%.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 97.39, up 0.14% from its previous close of 97.257. Currently, the local unit is trading lower by 10 paise at 69.02/$.
The rupee closed on Monday 12 paise lower against the US dollar on the back of losses in the domestic equity markets and a spike in crude oil prices overseas. Besides, strength in the US dollar against major peers also weighed on the rupee sentiment.
Meanwhile, oil prices inched lower as the International Energy Agency (IEA) said it would act quickly if needed to keep the market supplied amid tensions in the Middle East and traders eyed a weaker demand outlook. Brent crude futures slipped to $63.24 a barrel. West Texas Intermediate (WTI) crude futures were down 0.11% at $56.16/barrel.