Rupee Slips 17 Paise to 71.71 Against US Dollar in Early Trade

Mumbai: The Indian rupee opened on a cautious note and fell 17 paise to 71.71 against the US dollar in early trade on Wednesday amid rising crude oil prices and increasing demand for the US dollar vis-a-vis other currencies overseas.

Forex traders said muted opening in domestic equities also weighed on the domestic currency.

At the interbank foreign exchange, the rupee opened at 71.60 then fell to 71.71 against the US dollar, showing a decline of 17 paise over its previous closing.

The Indian rupee on Tuesday had closed at 71.54 against the US dollar.