Rupee slips 21 paise to 94.97 against US dollar

The rupee fell 21 paise to 94.97 against the US dollar in early trade on Monday, weighed down by a stronger American currency overseas. It opened at 94.90 after settling at 94.76 on Friday. Forex traders said positive domestic markets and a 3% drop in Brent crude to about $110 a barrel limited losses. India's forex reserves stand near $720 billion.