The Indian rupee depreciated in opening trades on Monday from a one-month high. the domestic currency opened at Rs 85.53 per dollar and dropped to a low of 85.70 so far during the day. On Friday, rupee appreciated 16 paise to close at an over one-month high of 85.39 against the US dollar, tracking a decline in the American currency in the overseas market and a weak tone in crude oil prices. Besides, rupee alongside other Asian currencies, gained ground on renewed hopes of trade deals with the US. US President Donald Trump announced a trade agreement with Vietnam, and that injected a dose of optimism that perhaps more such agreements could be in the pipeline before the crucial July 9 deadline. Meanwhile, Asian stock markets are trading mostly lower on Monday, following he broadly negative cues from European markets and lack of cues from Wall Street on Friday, amid ongoing concerns about U.S. tariffs after US President Donald Trump announced that his government will send letters to around 170 trading partners outlining new, simple unilateral tariffs that will take effect on August 1.

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