Mumbai: The rupee declined marginally to 83.01 against the US dollar in early trade on Tuesday amid a muted trend in domestic equities.
A stronger American currency and elevated crude oil prices also dented sentiments.
At the interbank foreign exchange, the rupee opened at 83.00 against the dollar, and touched an early high of 82.98 and a low of 83.01 in initial trade.
On Monday, the rupee appreciated 7 paise to close at 83.00 against the US dollar.
Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said the rupee is expected to remain range bound with a narrow range of 82.95 to 83.05.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.06 per cent higher at 104.23.
Brent crude futures, the global oil benchmark, rose 0.09 per cent to $82.07 per barrel.