Rupee depreciates 9 paise to 71.03 against US dollar in early trade

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MUMBAI: The rupee opened marginally lower by 9 paise to 71.03 against the US dollar in opening trade on Monday.

 

At the interbank forex market, the rupee opened weak at 71.03, down 9 paise over its last close.

On Friday, the rupee had settled at 70.94 against the US dollar.

However, the local unit pared the initial loss and was trading flat at 70.94 against the US dollar at 1012 hours.

Brent crude futures, the global oil benchmark, rose 1.04 per cent to USD 64.95 per barrel.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 98.47.

As per provisional data, Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 35.78 crore on Friday.

Domestic bourses opened on a bullish note on Monday with benchmark indices Sensex trading 774.19 points higher at 38,788.81 and Nifty up by 245.45 points at 11,519.65.

The 10-year government bond yield was at 6.77 per cent in morning trade.

 

With inputs from PTI

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