Mumbai The Rupee opened on a weak note and declined by 20 paise to 68.70 against the U.S. Dollar in opening trade today, ahead of the presentation of the Union Budget.
Forex traders said Rupee slipped marginally against the U.S. Dollar as market participants awaited cues from the Union Budget to be presented in the Parliament.
The Rupee opened weak at 68.55 at the interbank Forex market and then fell further to 68.70, down 20 paise over its last close.
The Rupee had settled at 68.50 against the U.S. Dollar on July 4.
Meanwhile, weakening of the American currency in the overseas market, easing crude oil prices and positive opening in domestic equities supported the local unit.
Brent crude futures, the global oil benchmark, fell 0.03% to $63.28 per barrel.
Foreign institutional investors (FIIs) were net sellers in the capital markets, pulling out ₹28.95 crore on July 4, as per provisional data.
Domestic bourses opened on a positive note with benchmark indices Sensex trading 71.30 points higher at 39,979.36 and Nifty up 19.50 points at 11,966.25.
