Rupee slips 34 paise to 71.66 against US dollar in early trade

The rupee opened on a weak note and declined by 34 paise to 71.66 against the US dollar in opening trade on Monday, after the Budget 2020 disappointed market participants.

Forex traders said rupee weakened amid concerns of fiscal slippage and rising coronavirus outbreak fears.

Finance Minister Nirmala Sitharaman in her Budget 2020 speech pegged the country's fiscal deficit at 3.8 per cent for the current fiscal, compared to the earlier target of 3.3 per cent of GDP