USD/INR closed at 70.87 against its open at 70.45. Dollar rebounded during noon trades as Brent crude oil prices inched above $60 a barrel amid a strong greenback. Adding to that, the greenback traded higher against major peers on higher safe haven appeal ahead of the US President Donald meet with his Chinese counterpart Xi Jinping at the sidelines of G20 summit in Argentina, which is taking place from Nov 30 to Dec 1 in Buenos Aires.
Crude oil prices rebounded during early Asian trade Monday but still continued trade below $60/barrel on fear of surging supply amid slowdown in demand growth on concerns over global economy. Brent crude oil futures traded at 1% higher at $59.42 a barrel on Monday, while the US West Texas Intermediate (WTI) crude futures traded 0.61% up at $50.73 per barrel.
Indian stocks opened higher tracking Asian markets and slide in crude oil prices. However, global economic growth concerns may weigh on investor sentiments.
Sensex ended higher at 35,354.08, while Nifty climbed higher to 10,628.60.