16-10-2019, Business Desk: The rupee started today with weakness. The rupee opened today at a level of 71.59 against the dollar, down by 5 paisa. At the same time, the rupee fell 31 paisa to close at one-month low in the inter-bank foreign exchange market on Tuesday due to heavy dollar buying amid fresh concerns over the progress of trade talks between the US-China.
However, the decline in crude oil price by almost half a percent and the rise in the stock market helped mitigate the loss. The rupee fell 31 paisa or 0.44 per cent to close at 71.54 per dollar, marking the biggest single-day fall in the month. This is the weakest closing level since September 17 when the rupee closed at 71.78 per dollar.
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