MUMBAI: The rupee appreciated five paise to close at 88.67 (provisional) against the US dollar on Monday, supported by suspected RBI intervention and fresh foreign fund inflows.

Forex traders said the domestic unit faced some resistance as renewed trade war tensions between the US and China led to risk aversion in global markets.

At the interbank foreign exchange, the rupee opened at 88.75 and traded in the range of 88.57-88.79 before settling at 88.67 (provisional), registering a rise of 5 paise than its previous close.

On Friday, the rupee appreciated seven paise to close at 88.72 against the US dollar.

The US threatened an additional 100 per cent tariffs on China after Beijing announced controls over exports of rare earth last week.

The USD/INR pair got support from optimism surro

See Full Page