Rupee sheds 5 paise against dollar in opening trade

Mumbai: The rupee on Wednesday opened on a subdued note with a loss of five paise at 67.91 against the US dollar at the interbank forex market.

Strength in the dollar against other currencies overseas weighed on the domestic unit.

Traders attributed the rupee's fall to sustained foreign fund outflows, increased demand for the US currency from importers and banks amid a lower opening in the domestic equity market.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 407.33 crore on Tuesday, provisional data showed.

On Tuesday, the rupee fell 43 paise to end at 67.86 due to heavy month-end dollar demand from importers.

The benchmark BSE Sensex fell 214.13 points, or 0.61 per cent, to 34,735.11 in opening trade on Wednesday.