MUMBAI: The rupee depreciated 6 paise to settle at 88.71 (provisional) against the US dollar in a muted session on Monday, weighed down by elevated crude oil prices.

However, positive domestic equity markets and a soft US dollar cushioned the rupee's downside, forex traders said.

At the interbank foreign exchange market, the rupee opened at 88.64 against the American currency, and touched an intraday high of 88.64 and a low of 88.71 against the greenback during the day.

The domestic unit finally settled for the day at 88.71 (provisional), lower by 6 paise from its previous close.

On Friday, the rupee slipped 2 paise to 88.65 against the US dollar.

"We expect the rupee to trade with a slight negative bias on rising global markets and a surge in crude oil prices. Importers' demand for

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