 "Rupee settles below 70 after three months, crude oil slides further")
The rupee opened 11 paise lower at 69.06 against the US dollar on Monday. On Friday, the domestic unit declined by 12 paise to close at 68.95 on the rise in demand for the greenback from importers and sell-off in domestic equities.
However, the domestic currency gained 15 paise during the week. This was also the sixth consecutive week of gains for the local unit.
Nirmal Bang Securities in its daily currency report says, "On the daily chart, the USD/INR pair has marked a long bullish candle. It is currently trading below all its important moving averages. If the pair breaks
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