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Rupee continues decline, opens 15 paise lower at 70.64

The domestic unit on Tuesday slipped further by 3 paise to close at 70.49 due to increased demand for the American currency from importers and firming global crude oil prices.

rupee
The rupee opened at 71.12 a dollar, and closed at a near three-month high of 70.69

The rupee on Wednesday opened 15 paise lower at 70.64 against the US dollar. The domestic unit on Tuesday slipped further by 3 paise to close at 70.49 due to increased demand for the American currency from importers and firming global crude oil prices. Forex traders said the dollar strengthening against major global currencies overseas and losses in the domestic equity market also weighed on the local unit. In the stock market, benchmark indices Sensex and Nifty snapped their six-day winning streak amid profit booking in recently run up stocks ahead of RBI policy meet ...