Rupee recovers marginally, opens 7 paise higher against US dollar

The rupee on Tuesday opened 7 paise higher at 70.44 against the US dollar on Tuesday amid weak global cues and rise in crude oil prices. The domestic unit on Monday fell sharply by 59 paise to close at nearly two-and-a-half-month-low of 70.51 due to persistent foreign fund outflows and renewed worries over rising crude oil prices.

Domestic investors kept weighing weak cues from global markets amid uncertainties around US-China trade tariff deal. Also, sustained foreign fund outflows kept investors edgy.

Foreign investors remained net sellers in the capital markets, offloading shares worth Rs 1,056.01 crore Monday, provisional exchange data showed.

"Sovereign bonds