Rupee opens 7 paise higher at 70.97 against US dollar

The domestic unit on Wednesday dipped three paise to close at 71.04 amid rising demand for the greenback vis-a-vis other currencies overseas, even as crude oil prices eased.

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Market news: The rupee on Thursday opened seven paise higher at 70.97 against the US dollar. The domestic unit on Wednesday dipped three paise to close at 71.04 amid rising demand for the greenback vis-a-vis other currencies overseas, even as crude oil prices eased.

Forex traders said a weak trend in domestic equities, political unrest in the US and unabated foreign fund outflows also weighed on the local unit.

“Indian rupee is flat as there are no major triggers in the market. The political unrest in the US, middle-east tensions and no update over US China trade deal has been keeping rupee...read more

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