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Rupee opens 11 paise lower at 70.05 against US dollar

On Thursday, the domestic unit depreciated by 23 paise to settle at 69.94 on unabated foreign fund outflows amid simmering US-China trade tensions.

Rupee, Indian currency
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SI Reporter New Delhi
The rupee breached the crucial 70 level a US dollar in the opening trade on Friday amid subdued global cues and rise in crude oil prices. On Thursday, the domestic unit depreciated by 23 paise to settle at 69.94 on unabated foreign fund outflows amid simmering US-China trade tensions.

Firming oil prices and a prolonged spell of weakness in the equity markets also weighed on the domestic unit, PTI reported quoting forex dealers as saying.

The rupee has now lost a hefty 72 paise in four sessions (as of Thursday's close), the report added. 

"The uncertainty related to election

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