Rupee opens 15 paise lower amid strong dollar, higher oil prices

The domestic unit on Tuesday pared most of its initial losses and closed with a marginal 2 paise drop at 68.94 amid strengthening of the dollar against major currencies.

The rupee on Wednesday opened 15 paise lower at 69.09 against the US dollar. The domestic unit on Tuesday pared most of its initial losses and closed with a marginal 2 paise drop at 68.94 amid strengthening of the greenback against major currencies and sustained foreign fund outflows.

Rupee on Tuesday consolidated in a narrow range for the third successive session as most market participants remained cautious ahead of the important ECB (European Central Bank) policy statement that will be released today. 

Yesterday, International Monetary Fund (IMF) cut its forecast for global growth this year and next, warning that further