The Indian rupee which has been volatile over the last few days owing to several external factors has continued to witness the same trend even during today's trade session.
The domestic Indian rupee dipped against the strong U.S. currency due to the weak opening of domestic stock market, today. The rupee was seen at 70.80 mark against the mighty U.S. dollar, at 12:24 am IST.
The Indian rupee opened at 70.50 mark at the beginning of the day and fell straight to settle at 70.59 mark minutes after trading session began.
Previously, on Friday, the Indian rupee had depreciated by 8 paise to touch 70.49 mark against the U.S. dollar. The forex traders noted that the mighty US dollar against other overseas currencies in the global scenario weighed on the domestic Indian currency.
The declining crude prices on a regular basis also supported the domestic unit. The crude benchmark - Brent was seen trading at $59.75 per barrel, down by 1.21% and West Texas Intermediate was seen trading at $50.97 per barrel, down by 1.20%.
The fall in equity markets in India also contributed for the decline in the rupee value during today's trade session. Sensex lost 300 points and is trading at 35,740.78 points and Nifty was below 10,700 points, after a fall of 87.35 points at 12:18 pm (IST).