Rupee falls 14 paise against USD

Rupee falls 14 paise against USD

Mumbai: The Rupee on Thursday depreciated by 14 paise at 70.94 against the US Dollar in early trade on increased demand of the American currency by bankers and importers, amid rising global crude prices, dealers at forex market said. Strong dollar against other currencies overseas and lower opening in the domestic equity markets weighed on the domestic unit, the dealers added. A major fluctuation was seen in the local unit as it recorded intra-day high and low at 71.00 and 70.80 respectively, they added. On Wednesday, the Rupee ended 9 paise lower at 70.80 against the US dollar on rising global crude prices and heavy foreign fund outflows.

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