Rupee slips 13 paise to 70.07 against dollar

MUMBAI, May 12 (PTI): The rupee depreciated by 13 paise to 70.07 against the US dollar in early trade Friday as US-China trade related concerns and foreign fund outflows weighed on investor sentiments.

Forex traders said, rising crude oil prices and strengthening of the US dollar against some major rival currencies overseas also pulled down the local unit.

The rupee opened weak at 70.04 at the interbank forex market and then fell further to 70.07 against the American currency, down 13 paise over its last close.

The rupee had settled at 69.94 against the US dollar Thursday.

Meanwhile, President Donald Trump on Thursday held out hopes of salvaging a trade deal with China.

"It's possible to do it," Trump said of the trade deal at the White House.