The Indian rupee opened lower by 9 paise at 71.29 per dollar on Monday versus Friday's close 71.20.
On December 6, the Indian rupee added 9 paise to close at 71.20 against the US dollar.
The dollar-rupee December contract on the NSE was at 71.37 in the previous session. Open interest increased 0.99% in the previous session. We expect the USD-INR to find supports at lower levels levels. Utilise downsides in the pair to initiate long positions, said ICICIdirect.
Gold prices crept higher on Monday after Washington reiterated its stance on a deadline for a new round of US tariffs on Chinese goods this weekend, supporting demand for safe havens.
Oil prices fell on Monday after data showing China’s overall exports of goods and services shrank for a fourth straight month, sending shivers through a market already concerned about damage being down to global demand by the Sino-US trade war.
The dollar held firm after data showed surprise strength in the US jobs market, but the currency was restrained from moving higher by worries about an escalation in the US-China trade war.
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