Rupee on recovery path, opens 15 paise higher

NEW DELHI: The rupee on Monday opened 15 paise higher at 69.76 against the US dollar on Monday.

The domestic unit on Friday staged a good recovery to end higher by 20 paise at 69.91 against the greenback on bouts of dollar selling by exporters and corporates.

Excess volatility and movements in the US dollar had a major impact on the domestic currency.


India's trade deficit soared to a near five-year high of USD 18 billion, raising concerns on the current account front.

On the global front, oil prices dipped slightly on Monday on concerns that a US-China trade dispute will erode global economic growth, although looming US sanctions against Iran's oil sector kept crude from falling further, Reuters reported quoting traders.

Asian shares rose, taking support from Wall Street's gains on Friday after US Federal Reserve Chairman Jerome Powell said a gradual approach to raising rates was best to protect the US economy and job growth.