The Indian rupee opened lower by 12 paise at 70.99/$ on Wednesday vs. previous close 70.87/$.
The local unit on Tuesday ended flat at 70.87 per dollar.
Besides, the foreign portfolio investors (FPIs) sold shares worth a net Rs205.56cr and domestic institutional investors (DIIs) sold shares worth a net Rs642.47cr on Tuesday, as per provisional data.
Asian stocks were trading lower as investors awaited the signing of an initial US-China trade deal. As per media reports, US Treasury Secretary Steven Mnuchin reportedly said on late Tuesday that the United States would keep in place tariffs on Chinese goods until the completion of the second phase of a US-China trade agreement.
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