Rupee opens 13 paise higher at 70.01 against US dollar

The rupee opened 13 paise higher at 70.01 against the US dollar on Monday amid weak global cues. The domestic unit on Friday ended lower by 14 paise at 70.14 in line with fall in domestic equities market.

In the last few sessions, rupee has risen primarily on back of fund inflows. FIIs in this year until now have poured in funds worth $1.2billion in equity and debt segment thereby keeping the currency supported on lower levels. 

This week, market participants will be keeping an eye on inflation and industrial production number; expectation is that both inflation and IIP could disappoint and