Rupee opens 8 paise higher against US dollar amid soaring oil prices

The rupee opened eight paise higher at 69.59 against the US dollar on Tuesday amid soaring oil prices and subdued Asian equities. The domestic unit tumbled 44 paise to close at 69.67 on Monday amid higher dollar demand from importers and rising crude oil prices.

It was the third straight session of loss for the domestic unit, during which it has lost 126 paise.

On the domestic front, FII flows have slowed in the last one week, thereby keeping the rupee under pressure. This week, on the domestic front, inflation and industrial production number will be released and the weaker-than-expected economic number