Rupee opens unchanged at 70.49 against US dollar

The rupee opened flat at 70.49 against the US dollar on Monday. The domestic unit Friday weakened by 8 paise to close at 70.49 on rise in demand of American currency from exporters and surge in crude oil prices. 

Rupee continued to consolidate in a narrow range ahead of the important industrial production number that was released on Friday. Data showed IIP rose at a slower pace in November at 0.5 per cent compared to growth of 8.1 per cent in the previous month. 

On the domestic front, market participants will keep an eye on the inflation number that will be released