MUMBAI: The rupee declined 16 paise to 86.88 against the US dollar in early trade on Tuesday amid a strengthening greenback, sustained FII outflows, and a rise in Brent crude prices.
A rebound in the domestic equity markets prevented further fall in the domestic unit, according to forex traders.
At the interbank foreign exchange, the local unit opened at 86.83, before sliding further to 86.88, down 16 paise from Monday’s close of 86.72. PTI
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