The Indian rupee opened higher by 14 paise at 70.88/$ on Monday vs. Friday's close of 71.02/$.
The rupee ended higher by 5 paise at 71.02/$ against the USD on Friday losing most of the day's gains owing to a sudden rise in Brent crude prices after an attack on an Iranian oil tanker.
Meanwhile, Asian markets traded higher as the US and China worked out a partial trade deal.
Indian benchmark indices opened flat on Monday, following dismal IIP data for August.
India's August IIP contracted by 1.1% yoy, the slowest in nearly seven years. World Bank also cut India's growth forecast to 6% from 7.5% for the current year. It attributed the slowdown to slow private consumption and structural factors.
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