Rupee opens 8 paise lower against US dollar amid surge in crude oil prices

The rupee on Monday opened 8 paise lower at 71.31 against the US dollar amid rise in crude oil prices. 

The domestic unit on Friday slipped by 7 paise to close at 71.23, pressured by heavy foreign capital outflows and firming oil prices.

This was the third straight session of loss for the domestic currency. On a weekly-basis, the rupee registered a loss of 8 paise.

Among the global factors, China-US trade talks and crude oil prices are likely to influence forex market sentiment.  Moreover, market participants will also keep an eye on the Fed minutes to gauge a view