Rupee opens 23 paise lower at 70.26 against US dollar

The rupee on Friday opened 23 paise lower at 70.26 against the US dollar on Friday amid rise in crude oil prices. The domestic currency on Thursday surged by 31 paise to close at 70.03. 

"Indian rupee strengthened for third session against US dollar. Even after surge in crude oil prices and foreign fund outflow in equity cash segment, rupee manages to gain," said V K Sharma, Head PCG and Capital Markets Strategy, HDFC Securities.

Volatility in today’s session could remain low as market participants will also remain cautious ahead of the exit polls that will start this weekend, says Gaurang Somaiya,