India, Oct. 27 -- The Indian rupee weakened by 12 paise to 87.95 against the US dollar in early trade on Monday, pressured by rising crude oil prices amid optimism over a potential US-China trade deal.
At the interbank foreign exchange market, the domestic currency opened at 87.87 and slipped to 87.95, down from its previous close.
Forex traders said the uptick in crude prices was driven by renewed hopes of progress in US-China trade talks, which could bolster global oil demand and weigh on emerging market currencies like the rupee.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....