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Rupee Trades Lower At 70.67

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After closing a six-year low, rupee in Tuesday's trade also opened 7 paise lower at 70.80 against its previous close of 70.73. The home currency suffered on account of the falling yuan which signals China's acceptance of allowing weakness in the currency amid US-China trade war situation.

Rupee Trades Lower At 70.67
 

On a daily basis, the currency suffered biggest one day loss of 113 paise trigged by huge foreign fund outflow due to uncertainty over Kashmir and US-trade spat.

Going ahead, rupee's direction will be determined by RBI's monetary policy due to be announced on August 7 and which will largely be accommodative in view of the slowing growth and consumption pattern.

GoodReturns.in

Read more about: rupee dollar yuan us china trade war
Story first published: Tuesday, August 6, 2019, 9:38 [IST]
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