Rupee slips to 59.93 against dollar in early trade

The Indian rupee opened sharply lower against the U.S. dollar on Monday, nearing the psychological 60 mark again. The partially convertible rupee traded at 59.92 as of 09.05 a.m. against Friday's close of 59.56.

Fresh weakness in the rupee came despite a softening in the dollar index, which decline to 82.915 in early trade, having slid to a two-week low of 82.418 last week.

The rupee had gained 1.1 per cent in the week last week, snapping a nine-week losing streak.


(With inputs from Reuters)