India, June 16 -- The Indian rupee weakened by 6 paise to 86.17 against the US dollar in early trade on Monday, weighed down by rising global crude oil prices amid escalating tensions in the Middle East.
According to forex traders, a firm US dollar and continued FII outflows added pressure on the rupee. However, a positive start in domestic equities and an increase in India's forex reserves helped limit the downside.
At the interbank foreign exchange, the rupee opened at 86.16 and later slipped to 86.17, marking a 6 paise decline from its previous close. On Friday, the local unit had dropped sharply by 59 paise to settle at 86.11 against the greenback.
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