Rupee opens 14 paise higher at 70.42 against US dollar

The rupee climbed 14 paise to 70.42 against the US dollar in the opening deals on Monday. The domestic unit on Friday spurted by 32 paise to close at a nearly two-month high of 70.56 as crude oil prices receded following reports that Saudi Arabia had agreed on a temporary ceasefire in Yemen.

The local unit notched up gains of 38 paise on a weekly basis.

In the capital markets, after remaining net sellers for the past two months, foreign investors infused a net Rs 7,714 crore into the domestic capital markets in September following a slew of economic reforms