 "Rupee, Currency, Indian currency")
The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point.
On a weekly basis, the local unit slumped by 32 paise.
The Reserve Bank on Friday cut its benchmark lending rate by 0.25 percentage point to revive economic growth and affirmed commitment to remain accommodative to address growth concerns 'as long as necessary'.
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