Benchmark Brent crude oil was trading at $76.74 a barrel in early Asian trade
Rupee's nominal value in July should have been around 73.90 to show its fair value against its 36 trading partners
Intra-day, the domestic unit plummeted to a historic low of 71.97 a dollar before finding some respite, staging some recovery towards the tail-end
A positive start of local equity market also supported the rupee, dealers said
The bond market has started showing some fatigue on prospects of the rising supply of papers
RBI held 566.23 tonne of gold as on June 30, 2018, compared with 557.77 tonne as on June 30, 2017
The Indian currency lost 3.5% last month and is the worst performer in Asia so far this year
The rupee has come under pressure due to a multitude of factors
The forex market was nervous after reports highlighted risks of India breaching the 3.3% fiscal deficit target for 2018-19
The rupee hovered between 70.62 and 70.90 during morning deals
The rupee had recorded a steep fall of 49 paise, to close at record low of 70.59 against the dollar in the previous session.
The rupee has been hit by a range of factors including swelling current account deficit, surging global crude prices and lukewarm export growth
The rupee ended below the 70-mark against the US dollar for the first time ever on August 16 and has lost 10 per cent so far this year
The rupee got hammered to hit a low of 70.24 before rebounding from a fag-end wallop
The reserves have been declining in the past few weeks as the Reserve Bank is selling the US dollar to contain depreciation in the rupee
Excess volatility and movements in the dollar had a major impact on the rupee
The outflow indicate that foreign investors have started adopting a cautious stance towards India
Finance ministry has linked rupee weakness to external factors
The recent fall in rupee will raise funding costs
For one, part of the gains stemming from the rupee's recent decline are offset by similar declines in currencies of other exporting countries