Rupee slips 9 paise against US Dollar

The Indian rupee opened lower by 9 paise against the US currency after the world’s largest economy added more jobs last month than expected, lifting the dollar index and Treasury yields. The local unit opened at 71.29 per dollar vs. Friday's close 71.20/$.

The dollar held firm after data showed surprising 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.

Meanwhile, oil prices fell 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 the damage being down to global demand by the Sino-US trade war.

Back home, the Sensex is trading lower by 24 points at 40,421 and the Nifty is also down by 18 points.

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