INSUBCONTINENT EXCLUSIVE:
rising crude oil prices and recent foreign fund outflows weighed on investor sentiment
Forex traders said the decline in the local unit was in tandem with the weakness in other major Asian currencies vis-a-vis the US dollar
At the interbank foreign exchange (forex), the domestic currency opened at 70.22 a dollar and fell further to touch the day's low of 70.32
Besides, US-China trade related concerns, rising crude prices and foreign fund outflows also added pressure on the local unit
During the week, the rupee fell by 31 paise
in Asian currencies against US dollar
Weak economic data, rising crude oil prices and recent foreign fund outflows have been weighing on Indian rupee," said VK Sharma, head PCG
strength against a basket of six currencies, rose 0.06 per cent to 97.91
Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.2469 and for rupee/euro at 78.7210
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