The rupee slipped 12 paise to 87.95 against the US dollar on Monday, weighed down by higher crude oil prices amid optimism over a US-China trade deal. Forex reserves rose by USD 4.5 billion to USD 702.28 billion, RBI data showed.

Mumbai: The rupee depreciated 12 paise to 87.95 against the US dollar in early trade on Monday, weighed down by rising crude oil prices supported by optimism over a potential US-China deal.

Forex traders said the rally in crude oil prices was driven by the potential US-China trade deal, which supports expectation for a stronger global oil demand.

At the interbank foreign exchange market, the rupee opened at 87.87, and slipped to 87.95 against the greenback, registering a fall of 12 paise from its previous close.

On Friday, the rupee appreciated 5 paise to c

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