Rupee gains 10 paise at 69.07 against US dollar in opening trade

The rupee opened 10 paise higher at 69.07 against the US dollar on Monday. The domestic unit halted its three-day winning streak as it closed 25 paise lower at 69.17 as forex traders weighed rising crude oil prices.

Besides, as forex dealers said, there was concern in the market after reports surfaced that the Supreme Court Friday restrained Arcelor Mittal from acquiring Essar Steel, which in turn might impact dollar inflows considering the Essar Steel acquisition was worth nearly USD 7 billion.

Rupee continued to consolidate in a narrow range ahead of the important inflation and industrial production number that