The Indian rupee opened lower by 4 paise at 71.70 per dollar on Tuesday vs. previous close 71.66 per dollar.
The local unit on Monday settled 8 paise higher at 71.66 against the US dollar
On the economic front, the Reserve Bank of India's (RBI) fifth monetary policy meeting of the financial year 2019-20 begins today.
Back home, key equity barometers opened almost flat on Tuesday, with the Sensex down 32 points at 40,770, and the Nifty also down 15 points at 12,033.
Besides, foreign portfolio investors (FPIs) sold shares worth a net Rs1731.33cr and domestic institutional investors (DIIs) bought shares worth a net Rs753.99cr on Monday, as per provisional exchange data.
On the international front, US manufacturing survey pointed to a fourth straight month of contraction for the sector, with the Institute for Supply Management purchasing managers index unexpectedly falling to 48.1% in November from 48.3% in October.
Further, Asian stock markets were trading lower in early morning trade after US President Donald Trump said that he will reinstate tariffs on US steel and aluminium imports from Brazil and Argentina.
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