 "Rupee settles below 70 after three months, crude oil slides further")
The rupee on Thursday opened 14 paise lower at 69.40 against the US dollar amid falling crude oil prices and cautious Asian equities. The domestic unit on Tuesday settled unchanged at 69.26 in lacklustre trade as participants preferred to sit on the fence ahead of the RBI monetary policy outcome, slated to be released today.
Markets were shut on Wednesday on account on Eid-ul-Fitr.
"Market is already pricing in the 25 bps (basis points) cut in interest rate amid slower economic growth while inflation remains below target level of 4 per cent," V K Sharma, Head PCG & Capital Markets
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