The domestic currency opened 16 paise lower at 85.86 against the dollar on Wednesday, according to Bloomberg. The rupee has depreciated by 0.27 per cent against the greenback in the current financial year, and has witnessed 0.1 per cent depreciation in the current calendar year.

The Indian rupee is likely to open marginally higher on Tuesday, helped by the calm in Asian markets despite U.S. President Donald Trump imposing higher tariffs on South Korea and Japan among others.