Business Standard

Rupee opens 8 paise lower against US dollar amid drop in oil prices

The domestic unit on Thursday strengthened by 16 paise to close at 70.88.

Rupee, Currency, Indian currency
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SI Reporter New Delhi
The rupee on Friday opened 8 paise lower at 70.96 against the US dollar amid weak Asian equities and drop in crude oil prices. The domestic unit on Thursday strengthened by 16 paise to close at 70.88 as investor sentiment got a lift after US President Donald Trump said a trade deal with China could happen sooner than expected. 

Robust buying in domestic equities, fresh foreign fund inflows and easing crude oil prices also lent support to the domestic unit, forex traders said.

"In the last few sessions the rupee is consolidating in a narrow range of 70.70 and 71.25(Spot)

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First Published: Sep 27 2019 | 9:16 AM IST

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