Rupee retreats 31 paise to 70.87 against USD

The rupee fell 31 paise to close at 70.87 against the US dollar on Monday. At the interbank forex exchange, the rupee opened on a strong note at 70.37, then lost ground and fell to an intra-day low of 70.88 against the dollar. However, it finally closed at 70.87 per US dollar, down 31 paise over its previous close.