The Indian rupee opened lower by paise 23 on Tuesday at 71.82/$ vs. its previous close of 71.59/$.
The local unit fell by 68 paise to 71.59/$ in Monday's session as crude prices surged following drone attacks on Saudi Arabia's oil facilities.
The dollar index was flat at 98.64; the greenback was strengthened by the exiting of bearish bets on the dollar before the Fed Reserve's policy meeting starting tomorrow.
Investors are widely expecting a 25bps rate cut.
Meanwhile, Brent crude fell 1% to $68/bbl levels after climbing 19% intraday on Monday owing to drone attacks on Saudi Aramco. US President Donald Trump said on Monday that it seemed Iran was behind the attacks, however, he stressed he did not want to go to war. Iran rejected US allegations.
Most major currencies remained muted, with the yen and the Swiss franc erasing early gains on Monday.
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