INSUBCONTINENT EXCLUSIVE:
coupled with unabated rise in global crude oil prices
Besides, foreign fund outflows and stronger dollar against its key rival currencies impacted rupee trading pattern
At Interbank Foreign Exchange, rupee opened strong at 70.38 a dollar against previous close of 70.41
The local unit moved in a range of 70.34 to 70.59, before finally ending at 70.49, showing a loss of 8 paise
as foreigners continued selling domestic equity and debt
Oil importers rush for dollar after crude oil back in to bull market (gained 24 per cent since mid-December)," said VK Sharma, head PCG
Brent crude was trading near $62 barrel and as a result, Indian rupee depreciated further, said Sunil Sharma, chief investment officer,
reference rate for rupee/dollar at 70.4737 and for rupee/euro at 81.2083
The reference rate for rupee/British pound was fixed at 89.9155 and for rupee/100 Japanese yen at 65.03.
