Rupee opens 5 paise lower at 71.59 against US dollar

The domestic currency on Tuesday dived 31 paise to end at a nearly one-month low of 71.54 due to heavy dollar buying amid fresh concerns over the progress of China-US trade talks.

The rupee on Wednesday opened 5 paise lower at 71.59 against the US dollar. The domestic currency on Tuesday dived 31 paise to end at a nearly one-month low of 71.54 against the US currency due to heavy dollar buying amid fresh concerns over the progress of China-US trade talks.

It was the lowest closing level since September 17 when the rupee had closed at 71.78 to the dollar.

As per experts, investor caution returned as reports suggested that China wanted more talks this month before agreeing to a deal with the US for settling trade issues. Chinese yuan also