The Indian rupee opened at 71.36 against the US dollar, down by 9 paise vs. Wednesday's close of 71.27/$.
The fall was mainly on the back of weak equities and fears of fiscal slippage by the government.
The government is planning a slew of measures to combat the slowdown such as targeted tax sops and measures to drive infrastructure investments.
The local unit has now become Asia’s worst performing currency in August amid pressures from China’s yuan, the ongoing trade war, and a massive withdrawal of foreign funds.
The rupee has fallen 3.49% against the US dollar until August 14.
The 10-year government bond yield was at 6.602%, compared with its previous close of 6.634%.
The dollar index, which measures the US currency’s strength against a basket of major currencies, was at 98.216, higher by 0.07% from its previous close of 98.144.
Meanwhile, Asian stocks traded mixed amidst worries regarding a global slowdown as well as uncertainty with respect the the trade relations between the US and China.
Indian markets made a weak opening today with the Sensex down 280 points, currently trading at 37,024. The Nifty also lost 88 points and is trading at 10,941 currently.
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