The Indian rupee pared its early gains and ended marginally lower at 89.70 (provisional) against the US dollar on Monday, slipping 3 paise, as support from positive domestic equity markets was offset by a recovery in crude oil prices.
Forex traders said subdued sentiment due to a lack of progress in US–India trade negotiations weighed on the currency, even as a weaker US dollar index helped limit losses at lower levels.
In the interbank foreign exchange market, the rupee opened at 89.53 against the US dollar and strengthened during the session to an intra-day high of 89.45, marking a 22-paise rise from its previous close, before giving up gains towards the end of trade.