The rupee slipped 4 paise to 68.03 against the US dollar in opening trade on Tuesday following a lower opening in the domestic stock market.
Increased demand for the American currency from importers and banks was another reason behind the rupee’s fall in the opening trade.
According to provisional data, Foreign Portfolio Investors (FPIs) sold shares worth Rs 754.43 crore on Monday.
The rupee’s fall, however, was capped by the rise of euro and yen against the greenback, PTI quoted forex dealers as saying.
Earlier on Monday, the rupee had closed marginally up by 2 paise at 67.99 against the US currency.
Meanwhile, Benchmark Sensex declined by over 148 points in the early morning trade on Monday amid the weak global cues.
(With inputs from PTI)