The Indian rupee opened 3 paise down on March 11 at 87.3662 against the US dollar. The dollar index, which measures American currency’s value against six major global peers, fell to 103.783 in the early trade. Markets have been fixated on trade tensions after the US President slapped tariffs on top trading partners. The local currency, on March 10, erased all gains and depreciated around 18 paise due to increased demand from oil companies. The U.S. exported approximately 357,000 barrels per day of crude oil to India in February, compared to 221,000 Barrels per day last year, said Amit Pabari, managing director at CR Forex Advisors. He said this follows after an agreement reached during Prime Minister Modi’s meeting with President Trump in February. He added that the dollar weakened against ¥ and Swiss Franc amid tariff worries and a probable US slowdown. It was trading at 103.900 levels in the previous trading sessions.