Rupee slips 70 paise against dollar in early trade
The Indian rupee slipped in the early trade on Monday. It has opened lower by 70 paise at 71.62 per dollar versus Friday’s close 70.92.
Also Read – Rupee at 1-month high, likely to trade in the range of 70.80-71.60 levels
The rupee marched higher for the seventh straight session on Friday to close at 70.92 per US dollar, up 22 paise, as softening crude oil prices and easing US-China trade tensions bolstered investor sentiment, said PTI.
Most Asian currencies gained following signs of rapprochement between US and China over their trade dispute, it added.
The Indian currency has appreciated by 147 paise in the last seven trading sessions.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.