The rupee was trading weak by 33 paise at 62.18 against the dollar at 3.21 p.m. local time.
The rupee opened 20 paise weak at 62.05 per dollar against the previous close of 61.85 on the back of fresh dollar demand.
The rupee had closed stronger on Monday as the Finance Minister said that the fiscal and current account deficits will be controlled within the projected range in the current financial year.
The Finance Minister made these observations during his Vote-on-Account (Interim Budget) on Monday.
The inter-bank call money rate, the rate at which banks borrow money from each other to meet short-term requirements, opened higher 8.25 per cent against the previous close of 7.05 per cent.
Yield on the 10-year benchmark 8.83 per cent Government security, maturing in 2023, softened to 8.78 per cent against the previous close of 8.80 per cent. Bond prices rose to 100.25 from 100.14. Bond prices and yields move in the opposite direction.
