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Last Updated : Oct 07, 2019 04:07 PM IST | Source: Moneycontrol.com

Rupee extends losses, trades near day's low

The rupee on Friday closed almost flat at 70.88 against the US dollar after the Reserve Bank of India in a widely expected move cut key interest rates by 0.25 percentage point.

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The Indian rupee has extended the losses and trading near day's low level at 71.06 per dollar, down 18 paise.

It has touched an intra-day low of 71.09 per dollar.

It opened lower by 8 paise at 70.96 per dollar versus Friday's close 70.88.

Close

The domestic equity market is trading volatile with Nifty below 11,150, while Sensex is down over 100 points.

The rupee on Friday closed almost flat at 70.88 against the US dollar after the Reserve Bank of India in a widely expected move cut key interest rates by 0.25 percentage point, said PTI.

On a weekly basis, the local unit slumped by 32 paise, it added.

The dollar-rupee October contract on the NSE was at 71.08 in the previous session. Open interest rose by 0.62% in the previous session. We expect the USD-INR to find support at lower levels. Utilise downsides in the pair to initiate long positions, said ICICIdirect.

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First Published on Oct 7, 2019 04:01 pm

tags #Rupee

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