The Indian rupee opened lower by 8 paise on Monday at 70.96/$ vs. Friday's close of 70.88/$.
The local unit on Friday closed little changed at 70.88/$ following the 25bps rate cut by the Reserve Bank of India (RBI). The apex bank maintained its accommodative stance and would continue to do so until growth resumed, it said.
Meanwhile, Asian markets traded higher as US jobs data numbers came in moderately higher, abating recession fears.
Indian equity indices are trading higher today, following global cues.
The dollar index, which measures the strength of the greenback vs. a basket of currencies is marginally higher, trading above 98.83.
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