The Indian rupee depreciated 32 paise to 74.63 against the US dollar in opening trade today, tracking the strength of the American currency in the overseas market and a muted trend in domestic equities.
Forex traders said rising crude oil prices and risk-off sentiments could weigh on investor sentiment and drag down the local unit.
At the interbank foreign exchange, the rupee opened on a weak note at 74.63, registering a decline of 32 paise from the last close. On Monday, the rupee had settled at 74.31 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.22 per cent to 93.98.