The Indian rupee opened lower against the USD on Monday. The local unit slipped 10 paise at 71.04/$ vs. Friday's close of 70.94/$.
The Indian rupee on Friday soared 40 paise to settle at 70.94/$ as the forex market's sentiment was lifted by the government's decision to cut corporate taxes.
The tax relief measures propelled equity markets, however, were not well received by the bond market.
Meanwhile, equity benchmark indices opened with strong gains again, the Sensex rose 1,100 points and crossed 39,000, on the extended euphoria among investors.
The dollar index, which gauges the greenback's strength against a basket of currencies was at 96.46, little changed from its previous close.
Asian indices traded flat on Monday amid Middle East tensions and hopes regarding US-China trade talks due to start in early October.
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