The Indian rupee opened lower by 8 paise at 71.36 per dollar on Monday versus Friday's close 71.28.
"Moody's decision to change its outlook to negative from stable is a matter of concern. But it is unlikely to have major impact on the rupee in the near term," said Rushabh Maru, Research Analyst - Currency and Commodity, Anand Rathi Shares and Stock Brokers.
"There is lot of optimism regarding the trade deal between the US and China. Hence this may provide relief to the rupee."
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