Rupee opens 22 paise lower at 70.14 against US dollar

The rupee on Monday opened 22 paise lower at 70.14 against the US dollar amid weak global cues and soft crude oil prices. The domestic unit on Friday snapped its four-day losing streak to end two paise higher at 69.92.

During the week, the rupee fell by 70 paise. 

"The rupee is under pressure as the trade tension escalated between US and China. Global markets are also under pressure hence the rupee is weakening. In coming sessions, volatility is expected to rise in the rupee as the date of election results approaches," said Rushabh Maru, Research Analyst - Currency and Commodity, Anand