Rupee update: The Indian rupee declined in the early trade on Monday. It opened lower by 8 paise at 70.96 per dollar versus Friday's close 70.88.
The dollar-rupee October contract on the NSE was at 71.08 in the previous session. Open interest rose by 0.62 percent in the previous session. "We expect the USD-INR to find support at lower levels. Utilise downsides in the pair to initiate long positions," said ICICIdirect.