The Indian rupee opened lower by 11 paise at 70.05 per dollar on Friday versus previous close 69.94.

On May 9 the rupee ended lower by 23 paise from its Wednesday's close of 69.71 per dollar.

Rupee fell together with other Asian currencies as uncertainty related to trade war talks between US and China escalated. Top US and Chinese trade negotiators concluded the first of two days of talks yesterday to rescue a trade deal that is close to collapsing as Washington prepares to go ahead with plans to hike tariffs, said Motilal Oswal.

Tensions between the two major economies eased off in the latter half after US President Donald Trump said he had received a “beautiful letter” from Chinese President Xi Jinping as negotiations on a trade deal between the two countries continue in Washington.

US Trade Representative’s office announced that tariffs on USD 200 billion worth of Chinese goods would increase to 25% from 10% on Friday.

Today, USD-INR pair is expected to Quote: in the range of 69.7 and 70.50, it added.